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FICO Score dropped 15 points!


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Currently shopping for a mortgage, and had a 666 Equifax and 633 classic score. Mid scores are around 650. Recently, I asked an old account to stop reporting wrong winformation on my credit report. I had Chevron bank reporting an unknown balance and 120 days past due on an account I paid off 2 years ago. Now, they changed the amount due to '$0' and my score dropped 15 points immediately (myFICO alert). What gives? I can't get Chevron to budge on the status, the account came back verified.

I submitted my info to 2-3 lenders within the same 14 day period, would this have dropped my score? I'm worried that I can't get my loan now!!! I have had no new accounts opened in the past 6 months, and have had only positive info for the past 2 years!!! What can I do, am I in trouble?

I am so angry that the score I worked so hard to increase can take such a huge dip because I tried to 'clean up' my report...I need some advice on how to proceed here, please.

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I submitted my info to 2-3 lenders within the same 14 day period, would this have dropped my score?

I believe, your score could have also dropped some because of inquires. If several lenders have requested your CR. :confused:

I've read and been told that when multiple lenders pull your CR they should be lumped together as 1 inquiry because it is obvious you are looking for home financing,etc of some sort... BUT

a couple months ago I too was mortgage shopping for a re-fi and my scores DID in fact DROP from 1 month to the next with no other changes to my report but the inquiries?!? :evil:

sooo, I've been reading up here now on how to remove the inquires!! before moving forward...

I do agree with firstsource though even with the score drop for you, should should still have no problem.

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We'll see...I have a contract on a house due to close in 30 days....Home inspection is this Friday!!!

I saw a large dip in my credit score (Equifax -15pts.) due to disputing entries in my credit report. I had 5 student loans that were consolidated moved from 'Open account' to 'Closed - Paid as agreed'; Chevron changed its balance from 'Not reported' to '$0'; and, I had 3 inquiries for a mortgage posted...I had to dispute the student loans because lenders were asking about the consolidation...I'm thinking this is what tanked my score! It probably would have been better for me to wait and provided a letter of consolidation rather than jump the gun and close positive tradelines before closing, but I knew that $50K worth of loans looks worse than $25K!!!!

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tazunemono something else I have found out since I last posted here was that disputing can also cause a drop in scores even if the dispute was in your favor so to say....

Most any kind of a dispute causes an update in the "date last reported" date...

Ahntara posted this on


"The new 'Date Last Reported' on an account is what lowers your score...it causes the TL to appear recent to the scoring software. This hits your score in the History category which factors as (up to) 35% of the total number.

so this that new knowledge it wasn't just the inquires that probably effected your score...

hopefully these won't cause you any problem with your house!

Good luck!

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