Hi, this is my first time here. I need help in resolving a matter. I disputed one item that kept reporting inaccurate but it was disputed five times because equifax never got it right. This last dispute it was corrected but my score has dropped 106 pts. I purchased the score watch back in april 05 so it alerts me when an account cause my score to decrase. Each time it was the accuont that was in dispute. I contact equifax and they told me to give it some time. But what I would like to know could this really cause a score to drop 106 pts in 6 weeks. Help I want to purchase a home in the next year.
It was reporting as a CO three different times but I paid the account out. EQ just corrected the problem after 5x disputing the same account. But my score dropped down from 622 to 516. I called EQ back and they said that this do happens when you dispute an item but it should go back to normal or higher after the investigation. The ivestigation is now over and my score is still at 516. I don't have nothing new which came on my report but I'm just worry that what EQ is telling me is not true.
no it was co in june 2004 and paid off nov2004. But I been disputing this account since march of 2005. It kept reflecting not paid until recently in May 2005. Then it reported charge off for june 2004 march 2005 April 2005 June 2005. Now it is reporting co june 2004 paid. But everytime I disputed my score dropped. Now my score is 516 from 622.
It looks like the status update date is being used by FICO as the original delinquency date or paid date, resulting in the appearance of an increasingly recent charge-off or paid charge-off. The more recent the negative action, the more damaging to your FICO.
