Removing account in dispute from credit report

[williama]

I recently applied for an FHA loan and was told that I cannot get an FHA loan if I have an " account in dispute" showing in my credit report.

Please advise.

[Trish]

When was it last disputed? What type of account is it (paid or unpaid collection, charge off)?

[williama]

This was last disputed about 45 days ago.

I had it appear on 3 types of trades.

2 - charged off accounts
1-collection account
1 late payment account

I only disputed with the trade bureau's ...all three

[williama]

Does it matter if the derogatory trade was paid or not paid?

One charge-off was paid- I was verifying the late payyment in the tradeline.

One charge-off was not paid.

One collection was paid.

The Collection was not paid.

It appeared 4 times.

What are the rules in these cases. How can I remove these comments and how do I avoid having this placed on my account in the future when disputing?

Thanks.

[Trish]

By law, the CA has to report that comment to the CRAs every time you dispute.
As far as whether they are paid or not, it makes a bit of difference if you have to contact the CA/OC.

What I would try first is calling up the CRAs and asking them to remove the comment since the dispute/investigation is over. They may say you have to go to the furnisher of information/company reporting it, but I would try the CRAs first.

The reason I say call, is I've seen people send in a letter asking the comment to be removed and it gets treated like a dispute (duh), which is no help at all. This way you can get your point across that it is NOT a dispute and maybe it will be taken care of a little faster (especially if you're trying to get a loan). So try that first and see what they say.

[williama]

thanks for your reply Trish.

I have not sent any letters to the CA's or OC with regards to placing this account in dispute.

do you have any advice on how I should approach this when disputing with the CRA's when I ask them to verifiy or validate or initiate a re-investigation so I can avoid the " account in dispute" comment.

[Trish]

Originally Posted by williama

thanks for your reply Trish.

I have not sent any letters to the CA's or OC with regards to placing this account in dispute.

do you have any advice on how I should approach this when disputing with the CRA's when I ask them to verifiy or validate or initiate a re-investigation so I can avoid the " account in dispute" comment.

If you disputed it 45 days ago, then the OC/CA automatically reported the acct as in dispute (as soon as the CRAs notified them). By law, they have to do this, so there isn't any way to avoid having the comment put on there.

Sometimes they leave it on for a LONG time (I think I still have that comment on one of my TLs that I disputed over a year ago). You need to just contact the CRA and see what they say about getting it removed. Since the investigation is over, they should be able to tell you how to go about having that comment taken off.