Rebuilding Your Credit

[CC40]

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?

[2NE1]

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!

[nws2002]

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

[cmelvin62]

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!

[cmelvin62]

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

[2NE1]

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nws2002 wrote:

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

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

[CC40]

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!

[2NE1]

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cmelvin62 wrote:

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

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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.

[CC40]

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.

[2NE1]

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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.

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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.