Can someone please help me My FICO score on equifax was 673. I disputed two charge off and they came back verified. What I don't understand is that now my score is 638. We are in the process of my mortgage and I could just die right now. Can someone please help me. What should I do now?
check the dates on those two charge-offs after they were verified very carefully against the dates that were reported before you disputed. During the "verfication" process those TLs may have gotten "reaged" - meaning that the collection agency put a date on them that is more recent than the actual date of last activity. As charge-offs and other bits of negative information get older, they have less effect on your score. Newer information will drop your scores more dramatically. Reaging is illegal - if you find that those dates have changed do a search on this board to find out what to do about it. Good luck to you. Poochie
Thank you. I just check my new credit report and the only dates that have changed are the Date Reported. Account Number: Rate or Status: PAYS AS AGREED Account Owner: Individual High Credit: $0 Type of Account : Revolving Terms or Monthly Payment: $0 Date Opened: 10/1996 Balance: $0 Date Reported: 02/1999 Past Due: $0 Date of Last Activity: 02/1999 Months Reviewed: 28 Comments: Charge The Date Reported has changed to 10/2004. Is that illegal. I see that changing the date of last activity is illegal but is it also illegal to change the date reported.
Thank you. I just check my new credit report and the only dates that have changed are the Date Reported. Account Number: Rate or Status: PAYS AS AGREED Account Owner: Individual High Credit: $0 Type of Account : Revolving Terms or Monthly Payment: $0 Date Opened: 10/1996 Balance: $0 Date Reported: 02/1999 Past Due: $0 Date of Last Activity: 02/1999 Months Reviewed: 28 Comments: Charge The Date Reported has changed to 10/2004. Is that illegal. I see that changing the date of last activity is illegal but is it also illegal to change the date reported.
Sorry to say, but this is the little caviot of disputing older accounts. FICO is actually looking at the VERIFIED date and see's it as a new negative - don't ask me why, I just know this can happen (guess how I know?). So the moral of the story is; Go ahead and dispute, but be prepared for a worst score then you started out with in SOME cases. Sal
I could just die. I should of never disputed. We just got a approved for the mortgage and now this. I know they will pull again before we close. We don't close until March so I have time to hopefully work a miracle.
well, speaking on the other end of things as a mortgage underwriter, i'm surprised no one told you not to do anything in regards to your credit. that is the first thing i tell people. you want to do that all before. i guess before i can offer any advice, my first question is was the mrtg company making you pay these off prior or at close? if not, why did you dispute? lastly, can you pay for delete or good py history?
I'm wondering what you disputed. its an old account, pays as agreed, zero balance. what was to dispute?
