Should I dispute and how?

[un4givn]

This may sound dumb but I'm not sure what I should do about an old AMEX account.

TU - 635- reports 7 year history as Ok/Unknown- Payment made after chargeoff/collection DOLA 4/2004

EQ- 599- reports 120+ days due-paid DOLA 12/2000 7year history Ok/Unknown

EX-630- report DOLA 12/2000 Paid Collection charge off 7 year history 90+ days late 12/2000

Prior to finding this board I paid a collection company for this account back in April 2004. Obviously EQ and EX are reporting incorrectly and have the lowest scores but I am wondering if I dispute do I run the risk of

lowering my scores even more on these 2 bureaus?

[breathing_easier]

I take it this is AMEX reporting these TLs and not the CA?

Do you know if AMEX sold the account to a junk debt buyer or if you paid an agent/CA of AMEX?

If AMEX sold the account to a junk debt buyer, the only way they can report the status of the account is "Account Sold or Transferred" or "Purchased by Another Lender." AMEX must also be reporting a $0 balance.

[un4givn]

I paid the collection agency - Nationwide and it is not listed on my report.I do not know if they are a JDB or an agent for AMEX how wouldI find this out?

They did me a favor though because of dealing with them I decided to start taking an active role in credit repair and eventually found this site.

[willingtocope]

And actually, it could be TU that's reporting incorrectly. The DOLA is measured from the date preceeding the charge off NOT when you paid the CA.

[breathing_easier]

Prior to finding this board I paid a collection company for this account back in April 2004. Obviously EQ and EX are reporting incorrectly and have the lowest scores but I am wondering if I dispute do I run the risk of lowering my scores even more on these 2 bureaus?

Just disputing won't lower your scores. However, if the TLs are deleted and the account had a long history, you may see a temporary dip in your scores due to losing the age of the account. Still, unless you're planning on applying for a mortgage or auto loan in the very near future, in the long run it's better to lose the negative TL. Your scores will rebound.

[breathing_easier]

I paid the collection agency - Nationwide and it is not listed on my report. I do not know if they are a JDB or an agent for AMEX how wouldI find this out?

You can still DV the CA, even though you've paid them. Ask them specifically if they purchased the account. Also, look at Nationwide's website to see if they're in the JDB business.

[un4givn]

I'm not worried about deleting an old trade line I have plenty of other positive ones from 15 years ago. My credit got real ugly in 2001 right before I joined a CCCS program and got married.

I will contact Nationwide see if anything can be done. I just refi'd my car and I won't buy a house until I'm done with CCCS program probably in early 2007 so i've got some time to just play around and see what negs I can make disappear esp. since I know my MBNA account in CCCS shows 120days late in 2001 and will stay on my report for awhile I figure so long as I don't have any other negs for at least 2 years I should be okay for a mortgage.