EQ Fico up 96 pts

[Anonymous]

I recently had a few old baddies fall off as well as an old account added to my CR that drastically improved my history.  At the same time I disputed a derog and it is showing as such on myfico report.

I got a scorewatch alert saying I had improved 21pts from 641 to 662.  It also had an alert to an account change on that derog showing as in dispute.  I know that when in dispute fico does not calculate.  I assumed that was my 21 point raise.  Then I  decided to pull my full score power report and it shows 737.  96 pt inc.

My question is this.  Do you think the derog being in dispute caused just the 21 pt swing and the other stuff caused the other score increase?  I am wondering if the dispute comes back verified how many points will I lose.  Just the 21 I gained or more?

Here are the exact changes from 641 to 737:

Derog that was showing as an open account (it should be a collection) w/balance of $3100 showing as in dispute now.

Removed a recent paid collection.

Removed a year old paid collection

Account added that changed history from oldest 11 years w/3 yr avg to oldest 21 yrs w/5yr avg.

Any idea how many points I will lose if the derog gets verified and then moves to collection category instead of open account as it was??

[Anonymous]

hgolf...congrats on the score jump. Want to make sure, you are comparing "apples to apples"?

I am not familiar with "score watch" and "score power" reports as I work at a credit re-seller and we strictly provide FICO scores and am nor certain if these are what come in the scroe watch/power service that you are using?

Regarding the gain/loss of points because of the dispute. The item that you are disputing could have more of an impact than the presumed 21 pt increase if it comes back verified.

You need to look at the "date of last activity" (DLA) on that account and see what it was before your dispute.

After the dispute resolution it is very possibble that the DLA comes current and if the original was over 2 years ago, it could cause a drastic drop in the score again. This depends on the overall status of the tradeline though.

I hope that this is not the case but want to make sure that you are prepared for any possibility.

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hgolf1848 wrote:

I recently had a few old baddies fall off as well as an old account added to my CR that drastically improved my history.  At the same time I disputed a derog and it is showing as such on myfico report.

I got a scorewatch alert saying I had improved 21pts from 641 to 662.  It also had an alert to an account change on that derog showing as in dispute.  I know that when in dispute fico does not calculate.  I assumed that was my 21 point raise.  Then I  decided to pull my full score power report and it shows 737.  96 pt inc.

My question is this.  Do you think the derog being in dispute caused just the 21 pt swing and the other stuff caused the other score increase?  I am wondering if the dispute comes back verified how many points will I lose.  Just the 21 I gained or more?

Here are the exact changes from 641 to 737:

Derog that was showing as an open account (it should be a collection) w/balance of $3100 showing as in dispute now.

Removed a recent paid collection.

Removed a year old paid collection

Account added that changed history from oldest 11 years w/3 yr avg to oldest 21 yrs w/5yr avg.

Any idea how many points I will lose if the derog gets verified and then moves to collection category instead of open account as it was??

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Message Edited by soalsrfr on 02-22-2008 10:49 AM

[Anonymous]

Scorewatch and scorepower are services and fico credit reports sold right here on my myfico.com.   The scores I am talking about are true fico scores.

I appreciate the response and just have one question.  If the DOLA is changed if it comes back verified wouldn't that be re-aging.  I, of course know CA's do that all the time, but just making sure i am right on that?

[Anonymous]

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hgolf1848 wrote:

Scorewatch and scorepower are services and fico credit reports sold right here on my myfico.com.   The scores I am talking about are true fico scores.

I appreciate the response and just have one question.  If the DOLA is changed if it comes back verified wouldn't that be re-aging.  I, of course know CA's do that all the time, but just making sure i am right on that?

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Illegal re-aging occurs when a CA changes the DOFD to a more recent date in order to keep the derog reporting for a longer time (extending the CRTP).

This particular re-aging involves DOLA, which is important for FICO scoring but does not affect the CRTP.

Message Edited by cheddar on 02-22-2008 11:45 AM

[Anonymous]

I thought Equifax went by DOLA as far as CRTP was concerned instead of DOFD like TU & EX does??

[Anonymous]

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hgolf1848 wrote:

I thought Equifax went by DOLA as far as CRTP was concerned instead of DOFD like TU & EX does??

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Equifax's DOLA field is misleading.  It's not the equivalent to DOLA on the other two.  It's the same as DOFD on TU and EX.

The name of the field is a misnomer.

[Anonymous]

So ultimately if it comes back and the DOLA field has changed on EQ then that would be re-aging?

[Anonymous]

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hgolf1848 wrote:

So ultimately if it comes back and the DOLA field has changed on EQ then that would be re-aging?

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Now that's a good question.  Isn't there a different field on EQ that represents the same thing as DOLA on TU and EX?

I don't have a copy of my EQ report directly from EQ, so I can't check on this.  I have a TU and an EX but that doesn't help.

[Anonymous]

It is weird b/c if you look at an actual Equifax Credit Report it shows both the DOLA and Date Major First Del.  reported. This is an old report and on a lot of my baddies I had at the time it doesn't have anything in one or both of those slots.  The ones that do also have way different dates in relation to what TU and EX have as far as their DOFD's.  The account in question doesn't have a date in either one of those places.

Now if you look at just the myfico score power report it really only shows DOLA.  It is showing it as May 2002 which is right along the same lines as what TU is reporting based on the est. removal date of May 2009, but then Experian shows an estimated removal date of November 2008.

[Anonymous]

This is what I can tell you.

When pulling credit for brokers that use our company...the DLA field is the only field that comes through. If it is seperated by the bureaus to DOLA, DOFD or whatever...that doesn't reflect when the FICO is generated on a mortgage credit report.

Here are the headings that come to us direct form the bureaus in a customer RAW file:

Creditor                  CredID               Reported    Balance        Payments    Terms
AccountNum           AccountRate     Opened      HighCred     MonRev        HistDate
AccountType            ECOA code     LastActiv    PastDue       30 60 90       PayHist

This is the same for all bureaus and the items that are used for the score generation. Reported  is the date when information was last updated to the bureaus by the creditor. Opened is exactly that, the date the account is showing as openned. LastActiv is the DLA/DOLA.

Hope this helps.