Greetings myFICO community...Quick question, I'm waiting to hear back from my SL lender to see if two 90 days and one 120 days late mark is deleted on my CR from 2 accounts with this lender (a total of 6 marks). The two 90 days is from 2010, the 120 is from 2007. Approximately many points can I expect my score to jump? Thanks in adv.
Starting Score (August 2011 post chapt7): Mid 500's for all three
pizzadude wrote:
miltolam wrote:Greetings myFICO community...Quick question, I'm waiting to hear back from my SL lender to see if two 90 days and one 120 days late mark is deleted on my CR from 2 accounts with this lender (a total of 6 marks). The two 90 days is from 2010, the 120 is from 2007. Approximately many points can I expect my score to jump? Thanks in adv.
It depends on what other negatives are showing on your credit reports.....are there others and what are they ?
@Pizza, Negative: at this present moments are those 6 lates, BK Chapt 7 on my pub rec. (w/7-8 accounts incld in chpt 7 w/$0 balance and no lates), and 3 inq (2 banks, 1 credit line) within the last 4 months. Positive: I have 2 cc that are paid on time and kept under %25 percent of my CL, 4 student loans that are current, and about 25 years of credit history.
With the BK and the accounts involved in BK still reporting the point gain will probably be minimal. The deletion of the lates from 2010 will have more effect than the 2007. If the BK was before 2010 then maybe 10-15 point gain. The big gain comes when ALL negative items such as lates and collections are removed. Inquiry damage is minimal in most cases and generally recovered with aging accounts and solid payments well before the one year no scoring impact for FICO or the two year dropoff.
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