Hi, I just started my letter writing campaign for validation. After receiving the green cards back in the mail, my credit scores went down by a few points. All i did was send each bureau a letter to dispute inquiries. IS this a normal occcurance that while they are investigating the scores go down slightly? Also, how long before the bureaus actually remove the TL's from the reports? I sent the letters out 2 weeks ago. Also added myself as an authorized user to my wife's Capital one account, which lowered my score, but i believe that it was due to a balance of about $2500. That we just paid off anyway, so i am assuming thatwhen they report my balance on that card at Zero, my score will go up. Back to the original question though, is it normal for the scores to go down during the investigation period?
what changed on your credit report? print it out, go over it with the one you started with. something had to change, a balance, a date, an inquiry? something. did any creditor put an account you disputed in a disputed state? if it is an old charge-off or debt, when it gets placed in a disputed state on certain folks CR's it can actually lower your score..believe it or not, part of FICO's calculations consider the age of your accounts and doesnt distinguish this portion of its calculations between good or bad accounts..it takes them as a whole. so, if your oldest account is a charge-off, disputing it can lower your score.
well, here is what happned. i disputed three inquiries on each report. then i added myself as an authorized user on my wife's capital one account that she has had for 3 years. she did have a 2400 balance on it, but we just paid that off. i also am disputing to actual accounts on the credit reports that were reported as charged off. it has only been 2 weeks since i started. i am assuming that scores may have gone down due to the additional account with a balance being added but they may go up the next time the capital one card gets reported since we paid the entire 2400 balance.
Validation is for CAs. you dispute with CRAs. ****************************************************** NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ******************************************************* http://www.send4fun.com/telephone.htm >
you mean to tell me that i shouldn't have sent a validation letter to the CA? I have done a lot of reading, but is it now correct to state that i should be sending these validation letters to the CRA? thanks in advance.
scores went down...please help please don't flame me. i have been doing a lot of reading. please let me know if the following is accurate: you have a debt with a credit card company on your credit report for $4000 that you know is yours. You want it off. A CA is reporting the same debt on the credit report. 1. Send out the validation letter to the CA 2. Send out a dispute letter to the CRA for the original debt. 3. 30 days later send out another validation letter to the CA if you don't get a response and repeat 60 days later. 4. Send all of your green cards and letters to the CRA regarding the CA not validating for their removal of the item. Why can't you request validation from the original creditor and then again 30 and 60 days later and when they don't respond, sent it to the CRA? Aren't the original creditors required to validate as well?
