     Ann (Momof3) | Wednesday, April 25, 2001 - 08:53 am 
There has been alot of discussion about how disputed accounts are factored into your scoring. Lately many consumers have seen their scores ride while items were being disputed, we all believe this to be true. Some have wondered though if the account it still viewed to a potential creditor?
I just applied for my mortgage, my husbands EQ had an ongoing BATTEL oh I mean dispute for his collection account from 1995, score with collection account and 3 out of 4 scoring codes connected to collection 566, it was 577, then they added another late after a dispute, wasn't that so kind of them. His score today is 632, the collection account is still viewable to the creditor/lender, amount past due is still visable, it stated that item is being disputed and investigated, all 4 reasoning codes had NOTHING to do with delinquency. So by my calculations this collection is costing him 76 points. We shall see my latest attempt is successful, we will see if now that it is paid will it have an effect, now that it is closed? I will keep everyone posted with the progress.
By the way Christine, my lender went ahead with the actual loan process, I should hear by tonight or tommorrow the results. I figured I would take that 632 for all it's worth!! |
| Christine Baker (Admin) | Wednesday, April 25, 2001 - 10:44 am
Ann, the lenders should always see what you see on the report.
So scoring DOES ignore the disputed accounts, that's good to know. For once it works in the consumer's favor, great for applying for credit cards.
BUT, keep in mind that mortgage lenders DO get the printed report and will probably require to see the outcome of the dispute - unless it goes through an automated system where nobody looks at anything anymore.
Looking forward to see what happens with Ann's loan and scores. |
| Ann (Momof3) | Wednesday, April 25, 2001 - 01:13 pm
Hi Christine
I have explained the collection account to the lender and why I am disputing it, I believe they are using the automated system, but I think they will have to look over it because that collection account remains on TU, undisputed at the moment, mailed it in to the local agency (long story there, refused to take dispute over phone grrr) so I assume that it "MAY" reject because of the unpaid collection, but atleast they already have my explanation and it has been recently paid. I will keep you posted it "was" supposed to have been run today, but the VHDA site was not running properly so it may not get sent through til tomorrow. Whatever the outcome, I will post it here |
