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EQ items in dispute, FICO score still taking them into accou


md
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Basically I put all of the items in dispute that had lates on them and ordered my FICO score to check it out. The number one reason for my score being so low is due to recent late payments. I clicked on the accounts and it shows them as in dispute too.

Does it take a little time for FICO to not take these into account. My understanding was that when you ordered a FICO it analyzed the credit report at that time. Perhaps it takes a while for the coding on Equifax's end to take them out of the FICO loop, even if they are already marked as in dispute? Any input on this would be appreciated.

I was going to wait a couple of days, but of course couldn't as I need to get some credit to finish paying off a settlement.

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That was outright sabotage on your part, what are you trying to do, just get dispute period for these to be out of scoring then go apply for loan?

I bet, when you see you score during the dispute period, you will actually find it to drop and not rise.

How many did you dispute?

How old where these accounts?

When was the most recent lates on these account?

How many other good tradelines do you have to make up for these should they result in being deleted?

There is so much that these tradelines contribute to the score, positive & negative at the same time.

You have to be careful of this part, some times you get lucky deleting them, but most times, you don't.

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It was not an uncalculated arbitrary decision on my part. I weighed the pros and cons of each account carefully. The lates are all very recent as I let the accounts lapse in order to settle on them.

I have two current accounts (which are carrying balances) that are only around a year old each, but have a perfect payment history. I have several closed accounts with perfect payment history and two other open accounts with zero balances. These are just my credit card accounts. I also have a car loan with a perfect payment history of two years, a student loan dating back to 1995 and one to 1996. One account I didn't put in dispute was my Discover. They took off the lates and even reported a higher credit limit so it wouldn't look like I went over, but it still shows as settled. That account I left as is for the moment because it is my oldest credit card dating back to 1995.

The fact of the matter is that these lates are so recent and there are so many of them that I figured they must be doing more harm than good. I still feel that way. I just wonder if it takes any amount of time from when they are placed in dispute before it affects the FICO score. My previous understanding was that it didn't take any time. I may check again in a few days. If anyone has any insight with respect to this it would be greatly appreciated.

I don't look at it quite as sabotage on my part. I really didn't have a choice. If I could wait out 6 months to a year to clean up my credit then I would. However, I am on a time crunch and need to know if I am going to be able to get credit on my own, or find alternate means. I would rather avoid the latter as that is how I obtained most of my funds for the settlements in the first place. I am hoping to get enough credit through some Household cards to get this taken care of. With a FICO score of 630 I am still rather hesitant. Especially if the main reason is because of numerous recent lates on several accounts.

As to answer your other question, I disputed four accounts. Three of these accounts only date back to 1998/1999 and all have lates. The fourth one is my MBNA which dates back to 1996. It also has several recent lates, shows as closed by creditor, and as a settled account. I left the Discover alone for the length of history it adds to my credit card section, even though it has a settled notation.

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<blockquote>Originally posted by kb9tbq

Ok, so in your case, it is really going to be a mixed result - some good some bad, so it might even out - hard to say.

But the FICO should be immediately affected,

</blockquote>

That is what I was thinking, but for the reasons why the score was so low were mostly about the recent lates. I will check again in a few days I guess. I wish I had the EQ GOld w/FICO. That would make things much cheaper. ;) THanks for the input; it is appreciated.

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I have two current accounts (which are carrying balances) that are only around a year old each, but have a perfect payment history.

How much of a balance do you hold on these 2 & what are the CLs?

I have several closed accounts with perfect payment history and two other open accounts with zero balances.

On the zero balance accounts; what are your CLs?

I also have a car loan with a perfect payment history of two years, a student loan dating back to 1995 and one to 1996.

One account I didn't put in dispute was my Discover. They took off the lates and even reported a higher credit limit so it wouldn't look like I went over, but it still shows as settled. That account I left as is for the moment because it is my oldest credit card dating back to 1995.

The fact of the matter is that these lates are so recent and there are so many of them that I figured they must be doing more harm than good. I still feel that way.

lates within recent 2 yr history is affecting negatively on the Credit Score

I just wonder if it takes any amount of time from when they are placed in dispute before it affects the FICO score. My previous understanding was that it didn't take any time. I may check again in a few days. If anyone has any insight with respect to this it would be greatly appreciated.

With a FICO score of 630 I am still rather hesitant. Especially if the main reason is because of numerous recent lates on several accounts.

As to answer your other question, I disputed four accounts. Three of these accounts only date back to 1998/1999 and all have lates. The fourth one is my MBNA which dates back to 1996. It also has several recent lates, shows as closed by creditor, and as a settled account. I left the Discover alone for the length of history it adds to my credit card section, even though it has a settled notation.

Another thing which is hurting you is the amount of new accounts less then 2 years old, only time for aging will contribute to the scoring positively there, but might have something to do other to boost the score

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Thanks for your responses. :)

The two cards with balances are almost maxed out, which I know is hurting my score. There isn't much I can do about that at this time, however.

I know those lates are hurting my score the most. I think when the first rolls around tomorrow it may help as I have noticed score jumps on the first before. Another month (or a month) of paying ontime with all of my accounts. The lates didn't start popping up until this year. Several 90+ day lates, and of course even more 60+ and 30+ day lates on 6 accounts.

One of my creditors was nice enough to send me a letter stating that they are sending an update to the credit bureaus that the account is not mine. They apologize for the inconvenience. I think they did this so I wouldn't bug them about how I wanted the account reported via a restrictive endorsement. By simply having the account deleted (I am assuming they figured) it would make me happy enough and they would also still be in compliance with the law since it is their option to either report it or not report it.

On my zero account balances the credit limits are: Sears, $1800; Pier 1, $600. Not major CCs, but I have had no interest in using them and they are still open. No point in closing them as it would only hurt me more.

I know most of what is hurting me, or really what will help me the most is time. I have no intentions of ever being late again. Before I started the settlement process I was never late. I didn't want to be late and contacted my creditors before I became late, but of course that is not how they play the game.

Thanks again.

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