Disputing Credit Issues - Help or Hurt?

[TessiBon]

Hello All and Anyone that can help!

Can disputing credit issues hurt your credit or have disputes open?

Thanks,

TessiBon

[Anonymous]

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TessiBon wrote:

Hello All and Anyone that can help!

Can disputing credit issues hurt your credit or have disputes open?

Thanks,

TessiBon

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Disputing negative info should never hurt your credit.  There are exceptions.  Soemtimes when creditors don't respiond you may have an entire tradeline deleted but that should only happen if you are disputing as 'not mine'.  The other instance would be if its your oldest item and it is successfully removed.  It can hurt you by reaging your credit file.

[TessiBon]

Good information...Thank you for your time, TessiBon.

[Anonymous]

In a similar vein, I sent off GW letters for a couple of old late payments on closed accounts.  If I don't hear back from the lenders, can I dispute with the CRA?  If so, will my score drop if it's verified by the OC (like a collection getting updated when paid)?

[Tuscani]

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mattwarner wrote:

In a similar vein, I sent off GW letters for a couple of old late payments on closed accounts.  If I don't hear back from the lenders, can I dispute with the CRA?  If so, will my score drop if it's verified by the OC (like a collection getting updated when paid)?

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Yes, you can dispute. If the tradeline is updated, your score could definantely change. But just because the TL is verified does not mean any information was updated.

[064Runner]

Disputing an error with EQ sure has hurt my score. I sold my home in Dec 2003 closing out the mortgage. I noticed about 10 days ago EQ was showing "closed- paid" "current status- 30 days late". SO I sent a dispute letter and yesterday got an alert saying EQ had dropped my score 36 points due to investigation. Makes no sense to me whatsoever.

[Tuscani]

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064Runner wrote:
Disputing an error with EQ sure has hurt my score. I sold my home in Dec 2003 closing out the mortgage. I noticed about 10 days ago EQ was showing "closed- paid" "current status- 30 days late". SO I sent a dispute letter and yesterday got an alert saying EQ had dropped my score 36 points due to investigation. Makes no sense to me whatsoever.

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The 30 late is what probably dropped your score. Can you paste the EQ alert?

[Anonymous]

The the status change to late when you ran the report, runner?  I'm thinking if I have an old closed account with a 60-day late some years ago, the worse that can happen is that the same late is confirmed.  Would you expect a score change with that, since the date reported/verified is recent?  (Like when a collection changes to paid and the date reported updates, making it a "recent" collection for scoring.)

[Tuscani]

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mattwarner wrote:

  Would you expect a score change with that, since the date reported/verified is recent? 

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Yep! This is the main reason we recommend PFD when paying off old collections.

[Anonymous]

I understand the PFD for collections, wasn't sure if the same principal was also true for non-collection/non-charge off tradelines.  (Mine's an old late payment on a now-closed/"current at close" student loan that had been late once prior to close.)