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| *Loan,banking and credit>>>credit report |
Has anyone had experience with disputing info on their credit report causing their score to decrease.? |
I recently (about 10 days ago) sent each bureau a letter disputing some accounts and inquiries on my report. I use Score Watch to monitor my score and yesterday I got an alert stating that info on my report had changed and my score dropped 20 points. The change in my report was the disputed items noted that the consumer was disputing validity. Can I argue this decrease with the credit bureau? And if so, how? I didn't think I could be penalized for submitting dispute letters. You were not penalized because you put in a dispute. It is because items in dispute can not be used to calculate your score. It is as if the disputed items don't exist. If your dispute is found to be valid the item will be removed permanently and your score will be based on the remaining items. Depending on the rest of your report it could actually lower your score. If the item you disputed is kept on the report your score will be calculated with that item and probably be the same as it was. You can't dispute the score because the score is only calculated from the information on your report. Take it up with your local Credit Bureau. The bureau is to notify basic reporting services (3 basic ones) on their results. You will have to go in person with whatever proof you have to get it corrected. To look at exactly what is on their records & by who, they will charge you a fee. Negative credit is usually based on something not being paid. You may have disputed accounts that were helping you score. Most people have no clue what is helping and what is hurting.. Impossible to knwo without seeing your report, sorry. Even an account listed in error could be helping your score, if disputed, your score drops. It is best to have no credit cards whatsoever. That way none of these problems exist. I never had a credit card in my life and never will have one - out of principle. I am not in the system. Cut them up and you will sleep better! |
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