how big a jump

[Anonymous]

I just had an account removed from my report opened in January of 08.  It was Arrow financial and listed under accounts.  It showed a 120 late in August and October 08.  My most recent late now is 11/05 and that is a 120.  My average age of accounts went from 3.45 years to 3.87 years with this gone.  Any ideas???

Message Edited by peeler1967 on 11-09-2008 05:52 PM

[Anonymous]

Was it listed as a collection?

[Anonymous]

FICO takes your most recent late and your most severe late, thus if you have a late that is more current than the 11/05 baddie it might not get you many points. If that is the most recent baddie on your report I could see you gaining maybe 30 points since that baddie is over 2 years old.

[Junejer]

FYI, whether it was listed under accounts or not, if there is collection anywhere in it, it will be treated as a collection by FICO.

Also, Debtisgood is correct about how the scoring will be handled.

[Anonymous]

It was factoring in my average age of accounts.  it was my most recent and most harsh (120) late. my next late is a 90 day in 11/05.  It technically is a collection as TU an EX have it listed in the collection section.  The amount past due was factoring in my revolving credit also.