Charge off finally gone--check out the huge score increase...

[crrredit]

Experian finally excluded a CC charge off that was originally supposed to drop off in March. They moved it to June for some reason, and today it finally dropped off. How did that affect my score? +1 point.

Only one CO left, and that's a Bank of America CO that was sold in 2009. According to reports from a big settlement in a NY Federal Court, BOA is going to remove any reporting for accounts they charged off and sold since May 2007. That's supposed to happen by this August. If that happens, I'll only have a small paid collection left on Experian and TU. Still waiting on a couple stragglers to drop from EQ in Sept. that are already off the others. Was hoping for a bigger score bump, but I'll take the psychological boost and one less thing for any manual reviewer to see.

[Anonymous]

When you have newer derogs, you generally won't see very much improvement from old items aging off. Thats why we always advocate attacking the newest derogs first, and working back in time.

[Anonymous]

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@Anonymous wrote:

When you have newer derogs, you generally won't see very much improvement from old items aging off. Thats why we always advocate attacking the newest derogs first, and working back in time.

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I have a 6 year old paid judgement and a 5 year old CO (which I am disputing). 

All of my other derogs have been taken care of. Does this mean that when my judgement falls off in 2 months I wont see any change? That SUUUUUCKS. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

When you have newer derogs, you generally won't see very much improvement from old items aging off. Thats why we always advocate attacking the newest derogs first, and working back in time.

---

I have a 6 year old paid judgement and a 5 year old CO (which I am disputing). 

All of my other derogs have been taken care of. Does this mean that when my judgement falls off in 2 months I wont see any change? That SUUUUUCKS. 

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As many have noted, you often see the biggest boost in scores when the last major derog is eliminated.

[crrredit]

Yeah, I paid a couple collection accounts last year, before knowing about the PFD angle. Now I'm GWing them. No luck so far. 

[crrredit]

Experian dropped the account, but it's not scheduled to be deleted until September on Equifax, it just updated on Equifax and remains on my report. It just reported in March, so I didn't take a hit score-wise on Equifax.

[krisssmmm]

I didn't know this. Good tip. Thanks!

[Anonymous]

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@crrredit wrote:

Experian finally excluded a CC charge off that was originally supposed to drop off in March. They moved it to June for some reason, and today it finally dropped off. How did that affect my score? +1 point.

Only one CO left, and that's a Bank of America CO that was sold in 2009. According to reports from a big settlement in a NY Federal Court, BOA is going to remove any reporting for accounts they charged off and sold since May 2007. That's supposed to happen by this August. If that happens, I'll only have a small paid collection left on Experian and TU. Still waiting on a couple stragglers to drop from EQ in Sept. that are already off the others. Was hoping for a bigger score bump, but I'll take the psychological boost and one less thing for any manual reviewer to see.

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Do you have any more info on the NY Federal Court ruing about accounts COd since 2007?

I am searching the net but nothing on it yet.

Thanks

[Anonymous]

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@Anonymous wrote:

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@crrredit wrote:

Experian finally excluded a CC charge off that was originally supposed to drop off in March. They moved it to June for some reason, and today it finally dropped off. How did that affect my score? +1 point.

Only one CO left, and that's a Bank of America CO that was sold in 2009. According to reports from a big settlement in a NY Federal Court, BOA is going to remove any reporting for accounts they charged off and sold since May 2007. That's supposed to happen by this August. If that happens, I'll only have a small paid collection left on Experian and TU. Still waiting on a couple stragglers to drop from EQ in Sept. that are already off the others. Was hoping for a bigger score bump, but I'll take the psychological boost and one less thing for any manual reviewer to see.

---

Do you have any more info on the NY Federal Court ruing about accounts COd since 2007?

I am searching the net but nothing on it yet.

Thanks

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i found the info - apparently it is pretty huge with chase, b of a, synchrony, citigroup, and others, but it only applies to the way ppl that were in bk were treated.

here is one article i found:

http://www.nytimes.com/2015/05/08/business/dealbook/bank-of-america-and-jpmorgan-chase-agree-to-erase-debts-from-credit-reports-after-bankruptcies.html?_r=0

sounds like good news for those that were in bk with those companies

hth

[Anonymous]

As Norman said, and I can personally confirm, you will see the biggest jump when the very last derog goes away. My EQ jumped from 656 to 747 (91 points) when the last one was gone and my report was completely clear. I remember how good it felt to finally hit 600 across the boards, and that paled in comparison to how it felt when I logged on and saw the alert that my Eq had gone up 91 points! The same baddie fell off of TU for a 63 point gain and Ex for a measly (LOL) 40 point gain. It was an unpaid FP C/O. The only baddies left now are 2 medicals that Fidelity was kind enough to dump on MY reports (both EX and TU) even though the bills were for my wife. Of course, the hospital never billed us, they just turned them over to collections. It's silly too, they aren't even that much ($1904 and $395). I have already struck and agreement with the hospital to pay in full if they will recall the debts. I expect to see large gains on TU and EX once that happens next month.