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Question By
nejj11

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Ask to remove a "disputed" status for mortgage loan?
Back in 2009, I had a charge off for a Macy's card. I agreed to pay off the full balance, but in 2013 I disputed the details of the account as Macy's did not accurately report the paid in full status.

Right now the remarks read "Consumer disputes this account information.
Account closed at consumers request. Paid charge off."

My question is should I ask Equifax or Macy's to remove the dispute remark? I've read that the word "dispute" can lead lenders to deny a mortgage loan.

My concern though with asking to remove the remark is that it may update the last reported date (currently 2013) to 2015.

My understanding is that if I did nothing, at least the late payments would be disappear in 2016 because it's 7 years later.

Please help! This is frustrating because I have a credit score of 715 and Equifax is the only bureau to report this.

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Is it showing as a Charge Off on your reports or not. This is confusing, sounds like a lot of contradictory info they have on the account. Either it was charged off or it wasn't. If the only place that you see charge off is in the comments, then I think you may have grounds to dispute it, but yes your fears of it updating are valid because it will update, however if there is no negative information besides what is in the comments then it really doesn't matter.

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If the account is shown as a charge off or has a bunch of late payments, then maybe you may want to avoid disputing it. If the account was charged off in 09 when was the DOFD (date of first delinquency) this is usually one month after the last payment that you made prior to the charge off. Equifax will sometimes remove negative accounts three months prior to the seven year mark under 'Early Exclusion" so do some reading on that. The reps will usually tell you that they do not do Early Exclusion, but keep calling and hopefully it will happen for you, I think they are instructed to tell people that they don't do it to avoid an overload of requests, but they do do it sometimes.

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Maybe put off applying for the mortgage until it falls off or find a mortgage lender that usually does not pull Equifax. I think my advice here is to not dispute it as it most likely will update and may cause more damage than where you are now, instead I would work on getting the Early Exclusion.

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If I was understanding anything incorrectly or you have other info, post back and I will try to help you more with this.

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One more thought, if the account is showing as a closed account in good standing, then it would remain for ten years, so if that would be the case, you would need to try to dispute the "charge off paid" comment in the comment box, but I am not sure if they will remove the "consumer disagrees comment". If in doubt of the status of the account or when it is slated to be removed, contact Equifax and ask them when it is slated to be removed from your report.

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nejj11

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I think you undertand correctly. Macy's remarks also confused (and annoyed) me. 

Thanks. I will likely wait it out or ask Equifax to remove the missed payments early. 

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nejj11

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Also, the account is showing as closed, but I don't see "good standing" anywhere. 

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