topic Re: Chase CC deleted in Rebuilding Your Credit

Chase CC deleted

CC40 — Fri, 06 Jul 2012 15:22:36 GMT

I had a charge off with Chase back in 2008. I sent a GW letter asking for deletion of the neg info. Just got a call that they are willing to delete the entire account, but not just the neg info. I accepted, of course, but I am wondering how this will change my score. I have other accounts just as old for the age factor piece of my score. Is this a good settlement?

Re: Chase CC deleted

2NE1 — Fri, 06 Jul 2012 18:19:52 GMT

You made a great choice. I had two Chase COs from 2010 (opened since '07) and I had their TLs removed, it helped my score by raising it, I don't know exactly by how much but it definitely improved it cause those derogs weren't gonna go away till 2017!

Re: Chase CC deleted

nws2002 — Fri, 06 Jul 2012 22:53:09 GMT

Just curious, were these paid CO or did they have an oustanding balance?

Re: Chase CC deleted

cmelvin62 — Sat, 07 Jul 2012 00:04:45 GMT

Oh my goodness, how? Did you have to pay for the deletion. I have three CO with Chase from 2006 that should be IIB. But if I can at least ask for deletion I will. Can you share more detail about the GW letter. Thank you very much!

Re: Chase CC deleted

cmelvin62 — Sat, 07 Jul 2012 00:06:45 GMT

Also, can someone help me figure out how to update my score. Thank you!

Re: Chase CC deleted

2NE1 — Sat, 07 Jul 2012 01:45:18 GMT

nws2002 wrote:
Just curious, were these paid CO or did they have an oustanding balance?

One CC was paid to them (paid in full), the other CC was sold to a CA.

Re: Chase CC deleted

CC40 — Sat, 07 Jul 2012 01:45:29 GMT

I just read other posts on here about success with Chase (never imagining that it would work). It was a paid charge-off though. I just explained my story and they called me today. The gentleman said he would be sending a letter to the effect. I can't wait to get it in my hand!

Re: Chase CC deleted

2NE1 — Sat, 07 Jul 2012 01:51:08 GMT

cmelvin62 wrote:
Also, can someone help me figure out how to update my score. Thank you!

You mean the scores on your signature? Just go to the third link (My Settings) on the upper right side and look for the signature box. :)

Re: Chase CC deleted

CC40 — Sat, 07 Jul 2012 01:52:40 GMT

I read somewhere though that you don't want the entire CC history deleted because it can actually backfire on a FICO score. ????????????? They are deleting the years that I did pay on time everytime as well as the negative. It was a 7 year old car. That is why I posted. I was concerned it may not have the immediate benefit I am hoping for. Wanted some input.

Re: Chase CC deleted

2NE1 — Sat, 07 Jul 2012 03:14:26 GMT

DixieGirlx3 wrote:
I read somewhere though that you don't want the entire CC history deleted because it can actually backfire on a FICO score. ????????????? They are deleting the years that I did pay on time everytime as well as the negative. It was a 7 year old car. That is why I posted. I was concerned it may not have the immediate benefit I am hoping for. Wanted some input.

Well that depends, how many lates did you had? Were there several 30+, 60+, 90+, 120+? Mine were bad from 30+ to 150+, it was worth losing those three years' history cause I would've had to wait seven years and constantly been explaining those lates to new creditors, etc etc.

Re: Chase CC deleted

ApexdvToo — Sat, 07 Jul 2012 03:23:40 GMT

From my understanding, it is rare (if not even probable?) a TL will be changed frrom a CO to a non-negative status so even if they removed the lates the CO status would still be a major derog ~for 7 years from the date of the CO i.e a major ding to your score. I agree with the other reply: it is probably a good thing. Too, after ridding yourself of all major derogs I understand FICO will then rebucket which will often result in a temporary score drop but soon after will begin climbing higher than possible if still in a bucket containing derogs.

Re: Chase CC deleted

2NE1 — Sat, 07 Jul 2012 11:14:19 GMT

ApexdvToo wrote:
From my understanding, it is rare (if not even probable?) a TL will be changed frrom a CO to a non-negative status so even if they removed the lates the CO status would still be a major derog ~for 7 years from the date of the CO i.e a major ding to your score. I agree with the other reply: it is probably a good thing. Too, after ridding yourself of all major derogs I understand FICO will then rebucket which will often result in a temporary score drop but soon after will begin climbing higher than possible if still in a bucket containing derogs.

True, unless the creditor's willing to change the CO status to "Closed, Paid As Agreed'. But I doubt Chase is willing to do this so they rather remove the entire TL.

Re: Chase CC deleted

LionLaw — Sat, 07 Jul 2012 13:43:13 GMT

I just went through this last month. Removing the TL gave my score a nice bump from 621 to 649.

Re: Chase CC deleted

CC40 — Sat, 07 Jul 2012 18:53:12 GMT

Just checked my CR and the Charge- off has been REMOVED!!!!!!!! YAY!,!!! Doing my happy dance! BUT SW hasn't sent me an alert. That is kinda frustrating me at the moment - bare with me I will get a grip in a sec. I get alerts for neg info or sometimes for no changes WHY NOT NOW.

Re: Chase CC deleted

ApexdvToo — Sat, 07 Jul 2012 21:28:58 GMT

DixieGirlx3 wrote:
Just checked my CR and the Charge- off has been REMOVED!!!!!!!! YAY!,!!! Doing my happy dance! BUT SW hasn't sent me an alert. That is kinda frustrating me at the moment - bare with me I will get a grip in a sec. I get alerts for neg info or sometimes for no changes WHY NOT NOW.

Awesome!! Congrats!

Re: Chase CC deleted

ApexdvToo — Sat, 07 Jul 2012 21:29:30 GMT

2NE1 wrote:
ApexdvToo wrote:
From my understanding, it is rare (if not even probable?) a TL will be changed frrom a CO to a non-negative status so even if they removed the lates the CO status would still be a major derog ~for 7 years from the date of the CO i.e a major ding to your score. I agree with the other reply: it is probably a good thing. Too, after ridding yourself of all major derogs I understand FICO will then rebucket which will often result in a temporary score drop but soon after will begin climbing higher than possible if still in a bucket containing derogs.

True, unless the creditor's willing to change the CO status to "Closed, Paid As Agreed'. But I doubt Chase is willing to do this so they rather remove the entire TL.

makes sense

Re: Chase CC deleted

Tallfish0919 — Sun, 08 Jul 2012 23:51:34 GMT

Can someone send me the contact info for chase

Re: Chase CC deleted

cmelvin62 — Mon, 09 Jul 2012 00:23:16 GMT

May I have this contact info too pretty please? Thank you!

Re: Chase CC deleted

ficomistress — Mon, 09 Jul 2012 01:07:01 GMT

Can u pm me the contact as well please Thx :)

Re: Chase CC deleted

2NE1 — Mon, 09 Jul 2012 11:49:47 GMT

DixieGirlx3 wrote:
Just checked my CR and the Charge- off has been REMOVED!!!!!!!! YAY!,!!! Doing my happy dance! BUT SW hasn't sent me an alert. That is kinda frustrating me at the moment - bare with me I will get a grip in a sec. I get alerts for neg info or sometimes for no changes WHY NOT NOW.

EQ SW does give alerts when neg info is added, however, when neg info is removed you won't be getting an alert. But if there's another change on your report due to the settings you picked to get alerted, you'll see the score change. If you can't wait for that change then you're gonna have to pull a new power report.