Question about disputing an item

[Rogue46]

I checked my latest credit report and show an installment loan that was paid in full marked included in BK7.  I was going to dispute it but apparently there is also a 30 day late and 60 day late on it. So my feeling is I would get dinged either way but which is the lesser of two evils?

My question is should i just leave it as is or dispute it as NOT included in BK? 

The BK7 was discharged 12/2014.

[Anonymous]

I assume you mean you’d be either dinged by losing the Account age if you were to remove it, or by the lates if it stays, correct?

That comes down to how old the lates are. It’s more likely that if the creditor is willing to help you via goodwill, that they’d remove the lates rather than delete the tradeline. I would definitely contact them and ask for a goodwill adjustment to show “no reporting” for those months. That way you clear the blemishes without losing the contributing age of the tradeline and its other, positive weight to your profile.

[Rogue46]

Sorry for the confusion. The account was paid in full albiet being late but was not included in the BK7 however Experian and TU have it listed IIB.

So I wondered if I should dispute the fact it was paid in full and never IIB or just leave it alone?

[SouthJamaica]

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@Rogue46 wrote:

I checked my latest credit report and show an installment loan that was paid in full marked included in BK7.  I was going to dispute it but apparently there is also a 30 day late and 60 day late on it. So my feeling is I would get dinged either way but which is the lesser of two evils?

My question is should i just leave it as is or dispute it as NOT included in BK? 

The BK7 was discharged 12/2014.

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I can't say which would be better from a scoring perspective, but I think the lates would be better.

Either way, though, I would dispute it. I wouldn't want falsehoods in my credit report.

[RobertEG]

I would suggest that you first informally contact the creditor and remind them of their obligation to update their reporting so as to reflect its current accuracy.  See FCRA 623(a)(2).

I would remind them of their obligation to promptly update without any need for you to file a formal dispute.

Showing that you actually paid a debt is preferable upon a manual review than statement that the creditor was not paid, and the debt was discharged by BK.

Update to show paid rather than discharged under BK would not remove the derogs, but would keep the account in your length of credit history (AAoA) scoring if it has an age that is longer than your average age of accounts.

However, if the age of the account is less than your current AAoA, you might simply request the creditor to delete the entire account rather than requesting update to paid.

[Rogue46]

The account was taken out in 2014 and paid in full July 2016 so it won't really affect my aaoa.