this should not be legal

johnpalley · ‎08-09-2008

ive got a charge off account with american express from 4 years ago that was never paid and it has also not been reporting since then. i figured i have nothing to lose by disputing it so i did. then today i recieved a scorewatch alert saying my score went down 19 points. i checked why it went down and i noticed that it shows the amex account is reporting now. is this the reason my score went down? just because its reporting? if this is true, how is that legal? it doesnt change the fact that the co happened 4 years ago?

Anonymous · ‎08-09-2008

Yes it's legal

By disputing - made it look more recent.

Amex never forgets-

johnpalley · ‎08-09-2008

Timothy, how does that make it look more recent? i thought it went by the the first delinquency date. can you please be more specific on how this works.

Message Edited by johnpalley on 08-09-2008 06:45 PM

RobertEG · ‎08-09-2008

By disputing, they removed the entire account from your credit scoring.

When the dispute is reported as resolved, it will be back,. You lost your credit history and CL.in scoring during the resolutin process, so when you dkspute, then dont pay attention to FICO scores until it is resolved.

Message Edited by RobertEG on 08-09-2008 09:57 PM

Anonymous · ‎08-09-2008

2 parts.

Part 1. Date of first del.
Part 2. Most recent date of activity on del account.

johnpalley · ‎08-09-2008

RobertEG, i have a few questions for you. 1- there is 5 charge offs that are effecting my credit from being in the 700's. right now my score is 643. i also have 3 accounts that are 5 years old with a credit line that totals 45,000 dollars, with a perfect payment history and only 2000$ charged on them. so it seems to me that if all the charge offs were gone my score would be exelent. in the 7's. so it seems like if there not calculating my amex account co which is only a credit line of $1400 then my score would go up and not down? 2-am i definitely gonna get my points back after the investigation as long as the account isnt deleted? 3-i have the program with true credit where i can check my credit score every 24 hours. out of the 5 accounts that i disputed the amex account that im talking about is the only one that doesnt say reinvestigation in progress on my credit report. i thought that might of meant they were finished with the investigation. how exactly can i find out when the investigation is finished? will it say on my credit report through truecredit when its done?

Message Edited by johnpalley on 08-09-2008 11:57 PM

johnpalley · ‎08-10-2008

bump

Anonymous · ‎08-10-2008

What question was not answered?

johnpalley wrote:
bump

johnpalley · ‎08-10-2008

RobertEG, i have a few questions for you. 1- there is 5 charge offs that are effecting my credit from being in the 700's. right now my score is 643. i also have 3 accounts that are 5 years old with a credit line that totals 45,000 dollars, with a perfect payment history and only 2000$ charged on them. so it seems to me that if all the charge offs were gone my score would be exelent. in the 7's. so it seems like if there not calculating my amex account co which is only a credit line of $1400 then my score would go up and not down? 2-am i definitely gonna get my points back after the investigation as long as the account isnt deleted? 3-i have the program with true credit where i can check my credit score every 24 hours. out of the 5 accounts that i disputed the amex account that im talking about is the only one that doesnt say reinvestigation in progress on my credit report. i thought that might of meant they were finished with the investigation. how exactly can i find out when the investigation is finished? will it say on my credit report through truecredit when its done? now that i think about it, im pretty sure that because this account is reporting again it damaged my credit even further. what do you think?

Message Edited by johnpalley on 08-10-2008 11:44 PM