How can this be? Now that I've come off the high of this happening I'm wondering HOW? Like everybody else here I got my fico score last month. It was 587. Several collections, a couple of judgements etc. I waited the required 30 days and get a new report and it's 659!!! I know it's not great but it's a whole lot better than 587! I've been doing the rebuild thing with FCNB, Orchard and Providian and always been on time and paid more than the min. 18 months now. Here is the catch... I did an online dispute for 4 collections, one account that isin't mine and two auto loans that had late payments reported. These all show up on the report as disputed. Could this be the reason that my score jumped so much? Thanks for your thoughts Mike
Re: 587 to 659 in 1 month HELP Hi Lizard, Yes, I need to be patient!!! I keep telling myself this. It's just to much to handle all at once (satire). I will keep the board updated as this unfolds. Thanks, Mike
Re: 587 to 659 in 1 month HELP Mike while items are being disputed they are NOT factored into the scoring, HOWEVER creditors will still see the item but it will state item is being disputed, but they will still see amount lates. amount past due, etc. Also your reasoning codes should have changed due to the deliquencies being disputed. You must have hit the timing right, there is a time period when you can't access your reports again, but you hit the time spot
Re: 587 to 659 in 1 month HELP This is actually a breakthrough in understanding FICO. We've also had here other evidence in the past suggesting that disputed items are ignored for scoring purposes; Or their effect is hugely diminished. Let this be a lesson: Dipute all negatives a few days before applying for a mortgage, a car loan, or even a credit card you really want to qualify for. The outcome of the investigation would make no difference; The mere fact that the negatives are diputed at the time your credit report is pulled, may substantially increase your chances. Saar
Re: 587 to 659 in 1 month HELP There are many factors that can change/increase credit scores, i.e 6th, 12th, 18th, 24th payment on a new account. Promo blocks phased in over 90 days from reciept of confirmation. A 30,60 or 90+ days late that falls out of the 24 month, 36, 48, 60 months mathematical module windows. A simple collection "public records" deletion that was last reported in the last 12 months is worth 50 points increase minimum. I assisted a client earlier this year on moving a middle score over 125 points in 45 days by using targeted strategies. This client went from being turned down 4 times by mulitple mortgage lenders this year into a very happy homeowner. They are ecstatic and have been flooding me with referals. Scott
