Disputed, Deleted, kinda Disappointed.

[Anonymous]

I recently disputed the number of late payments on a Timeshare maintenance fee account by calling TransUnion.  To my surprise it ended up deleted 30 days later.  The Timeshare and maintenance fee account foreclosed in 2009 and I'm still working with the company to settle.    The maintenance account showed that I opened it 4/06, DOFD 1/07  and a balance of $2092 and 21 late payments...  Although I wasn't trying to get it deleted and I'm happy it's gone, I'm disappointed that my Fico didn't go up.  I'm guessing since I have a very thin file I should be happy my Fico didn't go down.  Does that sound about right?

Now should I dispute with Equifax?  

I'm thinking that basically it has been reporting twice and when TU went to verify the it was no longer with Concord, it had been passed to the timeshare company when it foreclosed and is now a part of that settlement.  I just don't want to get a fraud alert or have my reports frozen for disputing valid accounts.

[RobertEG]

A lot depends on what you disputed, and what was actually deleted.

You had an OC account, and disputed specific prior monthly derogs.

When you dispute under FCRA 611(a), it is a two-step process. 

If you read the title of FCRA 611(a), it is called a "reinvestigation of disputed debt."

You first send the basis of your dispute to the CRA.  They then do their basic investigation by forwarding a copy of your dispute to the creditor who reported the disptued derogs.They must do this within five days of your dispute.  The creditor then reports (or fails to report) the results of their investigation back to the CRA, in suffiencent time for the CRA to consider your reasons, in addition to those offered by the credtior, and then their final, reinvestigtion, and report back to you in writing within 30-days of date of dispute.

If the creditor did not respond, then the CRA MUST delete the disputed information after 30-days

But if all you disputed were specifc derogs, then that does not mandate total deletion of the OC account.

If you dispute, in the same manner, to another CRA, that is separate.  YOu may get different investigations, and different response.

Success with one CRA is a good indication of success with another, so go for it.

But CRA deletion never removes the debt, and thus any futher CO, CA, or legal action by the creditor.

You might also want to take advantage of the new "direct dispute" process that goes into full legal effect on July 1st.

This process, as set forth in FCRA 623(a)(8), gives you the right to bypass the stupid process of being requried to first file your dispute with a CRA.

You can, as of July 1st,  file your dispute directly with the person who has posted the disputed information.

[Anonymous]

Thanks RobertEG for the response awhile back.  I took your advice and disputed with Equifax.  As of this am, the account has been deleted.  Yay!  I haven't gotten a SW alert, but I doubt my FICO will go up much, if at all.  It's crazy because it showed as an open account with 21 late payments, the most recent being Mar 09.  Either way I'm happy to have it gone, as it is already included in a settlement with the Timeshare company.   Thanks again!