need help. huge point drop today. nothing changed.

[JcT21]

im perplexed and its driving me nuts.  according to experian ive had a 72 point drop this morning.  for the life of me i cant figure out why.   the only thing i have done was dispute old closed accounts that were included in my bk 13 several years ago.  there are 17 of them.  before the drop, my score went up a few points because barclays removed their old account from my report.   my fico normally was 717.  now im at 645.  absolutely no other changes. 1 card reporting $50-$100 each month.  been that way for over a year now.  ive checked all my reports and nothing is there that shouldnt be.   

ive checked credit karma, credit wise, myequifax, & experian.   experian keeps sending me notices that an update to my dispute is ready, but they provide no insight as to what the update was.  i click on view my report and there are no changes.   now credit wise has the remaining old accounts listed as "payment plan" & "derogatory" under status.  i never notcied that before, so im not sure if that was supposed to be listed that way.   all credit bureaus have 0 collections on my report.  

i have 4 credit cards.  cap 1 venture, pay pal mc, cap 1 quicksilver & synch bp.   0 balances. except for 1 which always reports but i pay that off afterwards.    any ideas what caused this?  was it my disputes?  if so, it never did this before.

thanks .....

[Anonymous]

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@JcT21 wrote:

im perplexed and its driving me nuts.  according to experian ive had a 72 point drop this morning.  for the life of me i cant figure out why.   the only thing i have done was dispute old closed accounts that were included in my bk 13 several years ago.  there are 17 of them.  before the drop, my score went up a few points because barclays removed their old account from my report.   my fico normally was 717.  now im at 645.  absolutely no other changes. 1 card reporting $50-$100 each month.  been that way for over a year now.  ive checked all my reports and nothing is there that shouldnt be.   

ive checked credit karma, credit wise, myequifax, & experian.   experian keeps sending me notices that an update to my dispute is ready, but they provide no insight as to what the update was.  i click on view my report and there are no changes.   now credit wise has the remaining old accounts listed as "payment plan" & "derogatory" under status.  i never notcied that before, so im not sure if that was supposed to be listed that way.   all credit bureaus have 0 collections on my report.  

i have 4 credit cards.  cap 1 venture, pay pal mc, cap 1 quicksilver & synch bp.   0 balances. except for 1 which always reports but i pay that off afterwards.    any ideas what caused this?  was it my disputes?  if so, it never did this before.

thanks .....

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Best guess - the accounts that were disputed were verified and got updated, bringing all of those accounts back to the front in the scoring algorithm. Basically they were sleeping quietly to age off eventually and you woke them up with an update via your disputes.

17 old derogs woke up from sleep could definitely impact your scores negatively with new updates.

This is the dangers of disputing accounts, especially if they haven't updated in sometime (a long time). This can tank your scores.

I always advise against disputing unless they were absolutely inaccurate, basically not yours. It can do more harm than good.

I would do a 3B pull from annual credit report to see clearly what happened. It is free to pull weekly thru 4/2021 (no scores). They are the most comprehensive CRs around and will soell all the details out for each account and even when they should age off. Perhaps some are due to fall off in the next 6 months or less and you can work with that a bit to get them off your CRs, otherwise you will likely need to wait until closer to then for them to come off. 

Good luck!

[SouthJamaica]

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@JcT21 wrote:

im perplexed and its driving me nuts.  according to experian ive had a 72 point drop this morning.  for the life of me i cant figure out why.   the only thing i have done was dispute old closed accounts that were included in my bk 13 several years ago.  there are 17 of them.  before the drop, my score went up a few points because barclays removed their old account from my report.   my fico normally was 717.  now im at 645.  absolutely no other changes. 1 card reporting $50-$100 each month.  been that way for over a year now.  ive checked all my reports and nothing is there that shouldnt be.   

ive checked credit karma, credit wise, myequifax, & experian.   experian keeps sending me notices that an update to my dispute is ready, but they provide no insight as to what the update was.  i click on view my report and there are no changes.   now credit wise has the remaining old accounts listed as "payment plan" & "derogatory" under status.  i never notcied that before, so im not sure if that was supposed to be listed that way.   all credit bureaus have 0 collections on my report.  

i have 4 credit cards.  cap 1 venture, pay pal mc, cap 1 quicksilver & synch bp.   0 balances. except for 1 which always reports but i pay that off afterwards.    any ideas what caused this?  was it my disputes?  if so, it never did this before.

thanks .....

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It seems that the accounts being listed as "payment plan" and "derogatory" are your problems.

[Slabenstein]

I agree w/ @Anonymous above.  From the partial information you've provided, a catch-up pentalty from your old derog accounts updating due to your disputes seems like a likely culprit.  Iirc, IIB accounts work like COs for scoring purposes.

[Anonymous]

OP can probably look at the last updated date on those accounts to verify that the disputes/updated status was the cause of his score drop.

[JcT21]

that may be, however why would it be listed as payment plan?   there is no payment plan, never was.  is that something i need to dispute or just let it go?  it just doesnt seem accurate listed that way.  

[Shooting-For-800]

Ch13 is a payment plan.

Did these discharged accounts show a balance due?

Did they show late payments during or after your discharge?

If not, there is nothing to dispute.

[JcT21]

yes all showed a balance as if i still owed them.  so i disputed the info as incorrect, included in bk & discharged.  i disputed 90 days late. i was never late.  when i found myself in financial distress i closed all accounts while still in good standing and filed bk a few days later.   i also disputed old phone numbers, employment,  typo's in my address as well as a false address which belonged to my bk attorney.    however all reports have 0 collections and several accounts in good standing.  only negatives are  just the old closed accounts which now have been updated to show i dont owe anything but tanked my score. 

this will prob take a while to line itself back out again.  i hope the score drop dont affect my current accounts with credit line decreases.  that is my main concern at the moment.  i wish i would have just left it alone, my scores were better showing i owed something.  i shoulda let sleeping dogs lie :-(

thanks guys for your help, it is appreciated!

[Shooting-For-800]

It may rebound faster than expected.

Sometimes after BK disputes will erase the entire history.

GL!

[AndySoCal]

If all those old accounts are showing as in dispute the FICO scoring model basically makes those accounts nuetral. By that I am mean FICO does not know what is being disputed. So most if not all the of impact of those accounts had on your credit score either good or bad is not factored into the score.