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credit scores and collections?
I'm trying to clear up my credit disputing a lot of fraudulent claims ect ect. If and when the accounts I'm working on clear will my credit score go up or will it just reflect less collection accounts? I also found out an auto loan my ex-wife was supposed to take financial responsibility for in the divorce proceedings has came up with many late payments and a repo. Online disputing it gives an option of saying the account is an ex-spouses but after calling the auto loan lender they say its still my responsibility. How do I clear up this mess? Online disputing they said the account was verified. This is such a headache.
1 Answer
- A.R.Lv 41 decade agoFavorite Answer
First of all, as far as the ex-spouse goes your hands are tied. Although she/he was ordered in the divorce proceedings to pay, you only cease to be legally responsible for the debt if the debt was refinanced into the ex-spouse's name ONLY. A judge can order a spouse to refinance a debt, but if the person does not have the credit to do so, there isn't much the law can do to make them.
If you are disputing yourself, make sure you do it right otherwise you will end up with a bunch of verifications and further disputes will be deemed frivolous. That does NOT mean just writing to the CRAs and saying "This isn't mine". That's a fast track to being labeled frivolous. Make sure you contact the CA's first, ask for validation, write the CRAs, pick apart the tradelines so your dispute cannot be coded, etc.
And yes, if the collection accounts disappear your score will go up, probably substantially, depending on how old the accounts are.
Best of luck.