Is it bad, or are there any negative repercussions of disputing accounts on your credit report?

Question

I hear people even dispute accounts that they are still responsible for. Now even I know there is no "Free Lunch" in America, so to speak.

Answer 1

If you dispute an account that is still within the statute of limitations (SOL) for collecting in your state, then yes, there can be negative repercussions.

The only time a person should dispute a negative account that is inaccurate and still within SOL is if they plan on paying it. Because disputing it will, for a better word, wake up the collection agency.

If the account is out of SOL for collections and it is listed inaccurately, a person has the "right" to have it report correctly, or if it can't be, it should be deleted.

It is up to the consumer to make sure that the bureaus report their credit correctly. It shouldn't have to be that way, but it is.

If a person uses paid reports from each bureau to dispute from, the bureaus have 30 days to correct it or delete it. If a person uses the free FACT-ACT reports, it gives the bureaus an extra 15 days to have the account verified.

The average person can usually find at least one inaccuracy on any given negative trade line.

The bureaus work "very" hard to be at least 95% inaccurate.

Answer 2

Wow such good answers from everyone... ;)

The above is correct, if a creditor does not respond within the 30 (or 45) days it must be taken off of your report by LAW. HOWEVER, it can be reinstated at a later date if the creditor finally responds to it. There could be a SOL on their response, but I don't know what it is.

Now, if it is a collection account you're questioning about, the previous answerer nailed it on the head. You could indirectly "wake up" the collection agency to your debt which is not good. BUT, it could work to your benefit as well that is if you want to work with them on getting it removed. EITHER, having it "paid" or "paid in full" status on your credit report OR having it taken off all together.

But to answer you question, if you dispute anything on your report there "should be" no DIRECT negative repercussions only indirectly!.....GL

Answer 3

I recently disputed some items on my credit report. I think the main reason people dispute things is because the credit has 30 days to respond, otherwise it has to be deleted. So, they hope that the creditor doesn't respond within the 30 days, it would be an easy fix to something you dont want on your report. Also, from what I've heard, at times the creditor can be "lazy" and agree to delete the item to avoid having to research your account. I disputed my items because I want to buy a house. The negitive items on my report were due to medical bill, so I called the collection agency and they told me they would delete them for me if I disputed them throught the credit bureaus.

Answer 4

probably unfavourable skill unfavourable: something undesirable it quite is hurting your credit. something authentic and below 7 years old might want to be further at any time. unfavourable innovations on the problem of an account without pastime on your section for over 7-a million/2 years often isn't allowed on credit comments. If each and each of the expenditures are from a unmarried account, then there might want to no longer be separate 7-3 hundred and sixty 5 days-clocks for one and all. If the 7-3 hundred and sixty 5 days-rule treats each and each of the expenditures for an same account as a unmarried merchandise AND the bill on your credit record is below seven years old, they could be able to positioned each and each of the expenditures for that account on your credit record.