Why would your credit go down after paying off and disputing

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tracylaflower

Joined: 16 Apr 2009
tracylaflower's page
Posts: 1

17 Magic Points

Subject: Why would your credit go down after paying off and disputing

Thu Apr 16, 2009 9:22 pm

Paid of four bills and disputed two and my score went down 40 points. Very discouraged.

cbass1017

Joined: 01 Feb 2008
cbass1017's page
Posts: 143
Location: PA

1528 Magic Points

Thu Apr 16, 2009 11:37 pm

Hello tracylaflower,

What kind of bills did you pay off and how were they being reported to the credit bureaus. If they were seriously delinquent or charged off and you just paid them off it will probably take atleast a few months or more for your score to start to increase. The older they are the better.

Did you already get the response back from your disputes and did you dispute it with all three credit bureaus? A little more info would be very helpful to try to give you some honest advice.
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Scott McKay
FreeOnlineCreditGuide.com

carol

Joined: 27 Jun 2006
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Posts: 1307
Location: Los Angeles, California

29555 Magic Points

Fri Apr 17, 2009 6:09 am

Paying off bills will neither improve nor reduce your credit score if the bills are already listed as delinquent in your credit report. However, I think that there must be some hard inquiry or some new delinquent account listing in your report as a result of which your score has come down.
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Keep in touch
Carol

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