ALMOST in TEAR.......Why did this happen

[Anonymous]

I just lost 40 points in 1 day because of a dispute. Any ideas?

	Previously reported	Newly reported
Balance:	$0	$0
Past due:	$0	$0
Status:	At least 120 days or more than four payments past due	At least 120 days or more than four payments past due
Last activity:	9/1/2006	9/1/2006
Description:	Consumer disputes - reinvestigation in process Collection account	Consumer disputes - reinvestigation in process Consumer disputes this account information Paid collection

Changes to your credit report 

This jump in your FICO® score happened on the same day as a change on your Equifax Credit Report™ which triggered an alert. It's likely that the change in your credit report caused your score to go up, but this is not always the case. Your score may have changed for other reasons, such as paying back your debts responsibly, which isn't always reported as a credit alert. Also, as factors that were hurting your score get older, they have less of a negative impact on your score. In addition, if multiple changes on the credit report happened on the same day, some may have hurt the score while others helped it.

1 of your accounts reported changes

ASSET ACCEPTANCE CORP.  (XXXXXXXXXXXXXX0618) Show/Hide Details Account opened: 11/2008 Description: Consumer disputes - reinvestigation in process Collection account   Previously reported Newly reported Balance: $0 $0 Past due: $0 $0 Status: At least 120 days or more than four payments past due At least 120 days or more than four payments past due Last activity: 9/1/2006 9/1/2006 Description: Consumer disputes this account information Paid collection Consumer disputes - reinvestigation in process Collection account Contact: ASSET ACCEPTANCE CORP., Asset Acceptance,Llc, PO Box 2036, Warren, MI, 480902036

How account changes impact your score: The following are reasons why a change to an account can cause your FICO® score to go up. (A change to an account in the opposite direction can cause your score to go down.) The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay debts. The balance on the account decreased. Generally, less debt is better for your FICO® score. The amount past due on the account decreased. This demonstrates your ability to meet your financial obligations. The credit limit on the account was raised while the balance stayed the same. Since carrying a balance too close to the credit limit is a sign of a consumer who needs credit and cannot pay it back, a higher credit limit actually helps your FICO® score. The history of late payments or description for this account is revised to be less derogatory. For example, if a late payment on your account was mistakenly reported, correcting this on your credit report may help your score.

[haulingthescoreup]

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@Anonymous wrote:

I just lost 40 points in 1 day because of a dispute. Any ideas?

	Previously reported	Newly reported
Balance:	$0	$0
Past due:	$0	$0
Status:	At least 120 days or more than four payments past due	At least 120 days or more than four payments past due
Last activity:	9/1/2006	9/1/2006
Description:	Consumer disputes - reinvestigation in process Collection account	Consumer disputes - reinvestigation in process Consumer disputes this account information Paid collection

Changes to your credit report 

This jump in your FICO® score happened on the same day as a change on your Equifax Credit Report™ which triggered an alert. It's likely that the change in your credit report caused your score to go up, but this is not always the case. Your score may have changed for other reasons, such as paying back your debts responsibly, which isn't always reported as a credit alert. Also, as factors that were hurting your score get older, they have less of a negative impact on your score. In addition, if multiple changes on the credit report happened on the same day, some may have hurt the score while others helped it.

1 of your accounts reported changes

ASSET ACCEPTANCE CORP.  (XXXXXXXXXXXXXX0618) Show/Hide Details Account opened: 11/2008 Description: Consumer disputes - reinvestigation in process Collection account   Previously reported Newly reported Balance: $0 $0 Past due: $0 $0 Status: At least 120 days or more than four payments past due At least 120 days or more than four payments past due Last activity: 9/1/2006 9/1/2006 Description: Consumer disputes this account information Paid collection Consumer disputes - reinvestigation in process Collection account Contact: ASSET ACCEPTANCE CORP., Asset Acceptance,Llc, PO Box 2036, Warren, MI, 480902036

How account changes impact your score: The following are reasons why a change to an account can cause your FICO® score to go up. (A change to an account in the opposite direction can cause your score to go down.) The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay debts. The balance on the account decreased. Generally, less debt is better for your FICO® score. The amount past due on the account decreased. This demonstrates your ability to meet your financial obligations. The credit limit on the account was raised while the balance stayed the same. Since carrying a balance too close to the credit limit is a sign of a consumer who needs credit and cannot pay it back, a higher credit limit actually helps your FICO® score. The history of late payments or description for this account is revised to be less derogatory. For example, if a late payment on your account was mistakenly reported, correcting this on your credit report may help your score.

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I'm confused --your score went down, or up?

Disputes often (not always) take an account out of consideration for some scoring purposes. This can sometimes hurt by reducing your average age of accounts, for instance.

[kjm79]

Did anything else change on your reports?  Anything at all?  Based on the before/after snapshot of the account I don't see anything that would cause a drop like that?  I understand the alert was about the account BUT alerts don't always coincide with score increased or decreses (even if it happens at the same time).  Can you compare your last report with the new one and find any other differences?  An old account falling off?  Chang in UTIL???

[Anonymous]

I went from 680 down to 640

[Anonymous]

Nothing change on my reports but the fact that I disputed this account for the way they are reporting. My UTI% decrease due to me paying down other accounts.

[kjm79]

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@Anonymous wrote:

Nothing change on my reports but the fact that I disputed this account for the way they are reporting. My UTI% decrease due to me paying down other accounts.

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Might sound like a silly question, but how much did it decrease?  Did you pay all the way to zero?

[Anonymous]

No, I pay it down from 75% to 15%

[kjm79]

Hmmmm, that does sound weird.  It looks like it's a collection account that is disputed.  Dates are the same.  Can't see why that would drop your score.  Last silly question, the score drop, is the from you score from this site?

[Anonymous]

yes, it's from sw!!

[kjm79]

Just checking, I don't see how that dispute could drop your score that much.  Hopefully someone will come along who has some sort of an idea.  Seems strange to me though!