Drop in my score for disputing a late payment with no new Information.

[aarono8410]

I am frustrated. I disputed a late payment on my mortgage from September 2017. My fico scores dropped by over 20 points! No new information but the score breakdown lists it as a recent late payment! This ridiculous! I am thinking about making a complaint to the CFPB against Experian and US Bank. Any ideas? Something is wrong with the system when this can happen. Help!

[Jnbmom]

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@aarono8410 wrote:

I am frustrated. I disputed a late payment on my mortgage from September 2017. My fico scores dropped by over 20 points! No new information but the score breakdown lists it as a recent late payment! This ridiculous! I am thinking about making a complaint to the CFPB against Experian and US Bank. Any ideas? Something is wrong with the system when this can happen. Help!

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Did you have a late from September 2017?

[aarono8410]

Was not 30 days 24 days late when I made the payment. Even if it was, why is it scoring as if I just made a late payment. I can't accept this. 

[Brian_Earl_Spilner]

Unfortunately, when they verified the info was correct the resubmitting of the derogatory is the same as if you just got a new one. If the info is incorrect, and your lender will not fix it, you can file a CFPB complaint to get it fixed. You could also file a lawsuit for violation of the FCRA.

[aarono8410]

Thank you, Brian! I will start with Cfpb. If that doesn't work, I will have 3 weeks after this semester to throw everything I have into this. Would you recommend an attorney or is the process easy enough to do it on my own? I've never taken anyone to court.

[gdale6]

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@Brian_Earl_Spilner wrote:

Unfortunately, when they verified the info was correct the resubmitting of the derogatory is the same as if you just got a new one. If the info is incorrect, and your lender will not fix it, you can file a CFPB complaint to get it fixed. You could also file a lawsuit for violation of the FCRA.

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not for a late in an account that is not charged off. Its more likely that there is a change in comments as an account in dispute has certain aspects of its scoring removed until its settled and all references to dispute are removed.

[Brian_Earl_Spilner]

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@gdale6 wrote:

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@Brian_Earl_Spilner wrote:

Unfortunately, when they verified the info was correct the resubmitting of the derogatory is the same as if you just got a new one. If the info is incorrect, and your lender will not fix it, you can file a CFPB complaint to get it fixed. You could also file a lawsuit for violation of the FCRA.

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not for a late in an account that is not charged off. Its more likely that there is a change in comments as an account in dispute has certain aspects of its scoring removed until its settled and all references to dispute are removed.

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The issue here is that they were only 24 days late and it shouldn't have been reported in the first place. I'm also under the impression that comments carry no weight so not sure how a change in comments would affect anything. If you're talking about removing the derogatory from scoring during dispute, I thought that loophole was closed.

[Brian_Earl_Spilner]

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@aarono8410 wrote:

Thank you, Brian! I will start with Cfpb. If that doesn't work, I will have 3 weeks after this semester to throw everything I have into this. Would you recommend an attorney or is the process easy enough to do it on my own? I've never taken anyone to court.

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If you have proof, you shouldn't need an attorney. Just small claims court as the maximum award is $1000 per violation.