blum1176 Posted March 7, 2008 Report Posted March 7, 2008 So my EQ score just dropped 73 points today. there were no changes to my account with the exception of a dispute. but the account diputed was for late payments. which it reports on a monthly basis. can anyone help explain why this happened and if there is anything I can do.
blum1176 Posted March 7, 2008 Author Report Posted March 7, 2008 surfed a bit didnt find much info. One of my disputed items is a car payment with Americredit. It updates monthly, i am diputing a late. So wold the dispute be what would be dropping it seing as it is a 5 yr old acct. I would think that since it updates montly that the "recent activity"wouldnt affect the drop? right? rong? the other disputed items show the same DOA which is the last time i diputed. although with my last round of disputes i didnt have my fico, i dont recall drops like this.
Ahntara Posted March 7, 2008 Report Posted March 7, 2008 Since you were only disputing prior late payments, it should'nt have such a detrimental impact. But since we can't read your report...that's only a guess.
2001Badyear Posted March 8, 2008 Report Posted March 8, 2008 It happens. I had bigger drops than that with nothing particular that happened to cause it. Also had large jumps the other way. Look at a post of mine here if you want to see the roller coaster ride I have the CRA scores designing for me. Don't sweat the bouncing ball too much as long as it trends up over time.http://debt-consolidation-credit-repair-service.com/forums/showthread.php?t=282649
whocares Posted March 8, 2008 Report Posted March 8, 2008 Your score drops or when you dispute and Item, because that item is no longer figured into your FICO score, so it may drop because you lost an old account that was giving you history.If the item reappears as updated you may even fall further...If it is deleted, it may or may not improve your score...again because of age or amount.
willingtocope Posted March 8, 2008 Report Posted March 8, 2008 I have another theory.FAKOs, and the FICO score that the consumer is allowed to see, are closest to the "here's a sucker that the CC companies can make lots of money off of by charging penalty and interest" scoring model. When you give any indication that you know your rights (by disputing inaccurate information), your sucker factor goes down. That lowers your sucker score.
2001Badyear Posted March 9, 2008 Report Posted March 9, 2008 I have another theory.FAKOs, and the FICO score that the consumer is allowed to see, are closest to the "here's a sucker that the CC companies can make lots of money off of by charging penalty and interest" scoring model. When you give any indication that you know your rights (by disputing inaccurate information), your sucker factor goes down. That lowers your sucker score.Willing,Interesting theory, but doesn't hold with me. I disputed everything and things dropped via one manner or another and my scores have gone way up. Now they initially went down and up and down, but eventually they stayed up. Don't know what list I'm on, but want to stay on it.
willingtocope Posted March 9, 2008 Report Posted March 9, 2008 Willing,Interesting theory, but doesn't hold with me. I disputed everything and things dropped via one manner or another and my scores have gone way up. Now they initially went down and up and down, but eventually they stayed up. Don't know what list I'm on, but want to stay on it.Timing is everything. I'm saying, if you have "consumer disputes" on your report at the time the sucker score is calculated, it will affect the outcome. If you dispute, and things get dropped, then your sucker score goes up. This doesn't mean that your actual FICO "can I afford a house" or "do I qualify for a new car loan at a decent rate" scores went up by the same amount. Your disputes and any inquiries (yes, that's a different agrument) are still on your records, and MAY affect those scoring models.
flak88mm Posted March 10, 2008 Report Posted March 10, 2008 So my EQ score just dropped 73 points today. there were no changes to my account with the exception of a dispute. but the account diputed was for late payments. which it reports on a monthly basis. can anyone help explain why this happened and if there is anything I can do.Maybe your debt to credit limit went up. This doesn't mean that its a negative listing that appeared. It might be a good listing (like recently aquired credit) that they started reporting on your CRs.
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