Charge-Off deleted - Equifax "Credit Watch" didn't notify me??????

[mystro9876]

WOW...Amazing stuff, llecs.  I can officially say I am a smarter person after reading your post.

Well, this I do know....I had a remaining balance on the account for $51 since 2005.  When I ran my first credit report ever in 2009, I saw I had this remaining balance and thought the most prudent thing to do was pay it off (at the time it became derrogatory, I was in college, didn't have a pot to piss in).   So in June 2009, I made the final payment, but after really researching how credit scoring works,  I was under the impression that I "re-activated" the account. (BTW, TU was reporting as a collection account, EX and EQ, as a charge-off directly from OC).  I sent out a letter a couple weeks ago to a manager at Allied Data Systems and pretty much told him , "I thought I was doing a good thing my paying off my debt, but my credit report/score is worse now, is there anything you can do?".  Two weeks later, the trade line was deleted (Which I requested in the letter). 

I mean I have such a low score, and after this, nothing really derogatory/delinquent on my account except for a Collection account. This month I plan on getting my utilization under 10%, so we shall see how that affects my score.

As for the AAoA, do closed accounts factor into AAoA?  I opened the account in 2002, and it became delinquent in 2005.  It was listed under "Closed Accounts" within the EQ Credit report , along with 4 other closed accounts that were all in good standing.  All my accounts (closed and open) have been open between 2000-2005.  I really don't think it had much impact on my AAoA.

What do you think?

[anh2lua]

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@Anonymous wrote:

The same thing happened to me also. Score watch sent me an alert that I exceeded my target goal but it did not show any activity for collections acounts. I had to use my credit report again to see that a charge off was deleted. Unfortunately it's still being reported by the CA though but it gave me a 70 point increase from the one delete alone. Im still happy and that happened last week.lol

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I know this is old thread, but I really want to know how much gain in points (how many point) if a 4 yrs old charge off is removed?

[Anonymous]

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@anh2lua wrote:

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@Anonymous wrote:

The same thing happened to me also. Score watch sent me an alert that I exceeded my target goal but it did not show any activity for collections acounts. I had to use my credit report again to see that a charge off was deleted. Unfortunately it's still being reported by the CA though but it gave me a 70 point increase from the one delete alone. Im still happy and that happened last week.lol

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I know this is old thread, but I really want to know how much gain in points (how many point) if a 4 yrs old charge off is removed?

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It is absolutely impossible to know this.  Sometimes, you may see no change.  Sometimes, it could lower your score.  If it is your last and only derogatory, you should see a big jump.  If you have other newer charge offs, you probably won't see much change, but who knows.  There is no formula for figuring this stuff out.

[anh2lua]

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@Anonymous wrote:

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@anh2lua wrote:

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@Anonymous wrote:

The same thing happened to me also. Score watch sent me an alert that I exceeded my target goal but it did not show any activity for collections acounts. I had to use my credit report again to see that a charge off was deleted. Unfortunately it's still being reported by the CA though but it gave me a 70 point increase from the one delete alone. Im still happy and that happened last week.lol

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I know this is old thread, but I really want to know how much gain in points (how many point) if a 4 yrs old charge off is removed?

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It is absolutely impossible to know this.  Sometimes, you may see no change.  Sometimes, it could lower your score.  If it is your last and only derogatory, you should see a big jump.  If you have other newer charge offs, you probably won't see much change, but who knows.  There is no formula for figuring this stuff out.

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That is the only charged-off on my reports.  Another negative item is the short sale.

[Anonymous]

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@anh2lua wrote:

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@Anonymous wrote:

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@anh2lua wrote:

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@Anonymous wrote:

The same thing happened to me also. Score watch sent me an alert that I exceeded my target goal but it did not show any activity for collections acounts. I had to use my credit report again to see that a charge off was deleted. Unfortunately it's still being reported by the CA though but it gave me a 70 point increase from the one delete alone. Im still happy and that happened last week.lol

---

I know this is old thread, but I really want to know how much gain in points (how many point) if a 4 yrs old charge off is removed?

---

It is absolutely impossible to know this.  Sometimes, you may see no change.  Sometimes, it could lower your score.  If it is your last and only derogatory, you should see a big jump.  If you have other newer charge offs, you probably won't see much change, but who knows.  There is no formula for figuring this stuff out.

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That is the only charged-off on my reports.  Another negative item is the short sale.

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I don't know much about mortage stuff, but I think a short sale is just as bad as a charge-off for FICO scoring.  If I had to just take a wild guess, I would expect you to see a small point gain.  Is your short sale newer or older than the CO?  If it is newer, the increase will likely be minimal.

I had a bunch of COs removed from my TU report but my score barely moved just because there are a couple left, and the removed ones were the oldest.

[bridgetkaryn]

Just had a CO removed and it lowered my score by 6 points.... I lost like 2 years of credit history... Oh well, I will take the 6 points off...

[anh2lua]

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@bridgetkaryn wrote:

Just had a CO removed and it lowered my score by 6 points.... I lost like 2 years of credit history... Oh well, I will take the 6 points off...

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oh wow, I better not pay and hide from them until I closed the deal.  I don't want my score to drop, not even 1 point :-)

The short sale is newer than the charged off.