I have a closed account with MBNA that was opened on 1995 and has 6-30 day, 4- 60 day, and 2-90 day lates on it. It was paid off in 2001 and the status is "Paid or paying as agreed". I disputed it with all 3 CRAs as never late hoping to have the lates removed. All 3 verified. I sent a goodwill letter through PFB and got a response in December saying that it was reporting correctly and that I was out of luck. Sent another PFB letter earlier this month, and noticed that it mysteriously diappeared off of EXP and EQ, but it's still on TU. I thought maybe it was because of my 2nd letter, but I just got a response and it says they cannot verify my account #. I called the phone number on the letter and the guy said they have no record of the account and it was probably purged from the system because it was closed more that a year and a half ago. Here's my question. When it was removed from EQ my score didn't change. EXP I lost 5 points. TU is my best score and I'm wondering if it will hurt me more to have it removed because of the age of the account than if I left well enough alone. I figure it's a slam dunk dispute since MBNA is sending me a letter stating they have no record of the account. Should I dispute or leave well enough alone? Does the age outweigh the severity of the lates?
I have the same situation with MBNA. I have yet to dispute but based on your post, I think I would soon. The answer to your question is .... Go ahead, dispute. Get it removed. Your scores would drop in the short term but you would gain a better report/score in the long term. When fixing your CR, you have to understand that there are going to be both short term and long term consequences. In your case, long term gains would out shine short term loss.
