While reviewing your credit report, it is possible to come across an unfamiliar term, or remark. Each bearing it's own meaning and consequence, so then what exactly does “consumer disputes after resolution” even mean on a credit report?
The following information offers a deeper explanation of the term, and how it could potentially impact your overall credit score.
What Does Consumer Disputes After Resolution Mean For Your Credit Report?
Simply put, “consumer disputes after resolution” means that you have disputed an item on your credit report, claiming that it is inaccurate, and the dispute has been resolved. This statement shows that the CRA investigated your claim and found that the data you believed to be inaccurate, is in fact accurate. Sometimes this comment may also appear as “dispute resolved customer disagrees”.
Some credit reports will also reflect the phrase “meets FCRA requirements” to indicate that the credit reporting agency has followed all of the necessary procedures in investigating your claim.
Note that when “in dispute” appears on your credit report, your dispute has not yet been settled. It is important that you keep the dispute in mind, so that you remember to check the report again once you have received the investigation findings.
Will The Wording “Consumer Disputes After Resolution” Hurt My Credit Score?
Perhaps your lender is asking you to have the comment “consumer disputes after resolution” removed from your credit score. In this scenario, you are likely wondering what you can do to remove it.
First, you must understand if the statement is detrimental to your credit score.The phrase “consumer disputes after resolution” doesn't necessarily harm your credit score. However, it may still influence your ability to be granted a major loan, such as a mortgage.
In the case of your dispute being rejected, the negative item will remain on your report and your credit score will either revert back to what it was before the dispute was filed, or it could potentially decrease because a “hard inquiry” will be visible on the report.
Before becoming extremely concerned when reading the phrase “consumer disputes after resolution” on your credit report, remember that it does not necessarily mean that you will be automatically denied from getting a loan. However, it may be more difficult for you to be approved for a loan.