Rebuilding Your Credit

[ESA2012]

Dropped my weak 622 to 585. All myfico reported was the accounts were open for investigation. Ugh.. Very disappointed in myself. I didn't realize it would. The disputes are not settled yet so they could go back up or drop lower.

[Shogun]

The TLs that are in dispute are not factored for your score.  So you probably bottomed out your AAoA.

[ESA2012]

What is an AAoA? My student loans I completed rehabilitation on are still reporting past dues. negatively even after the debt was transferred reestablished. No longer in default. . And I want validity of a past repo.

[ninjamike81]

Average age of accounts

[Shogun]

Average Age of Accounts.  Here is a link to some of the common abbreviations we use here.

http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458

[ESA2012]

Ok thanks for the info. What do you mean by bottoming out? Why does it make it go down? Sorry still learning.

[dmsteidl]

I believe the way it works is that the TLs are not counted therefore their age isn't factored.  Suppose you have 3 TLs on your report.  The first is 5 years old, the second is a year old and the third is 6 months old.  You'd be looking at an average age of a little over two years.  Now if something in the 5 year TL is in dispute, that entire record stops being counted for the time it's in dispute and as such, the average age of account is only including the 1 year old account and the 6 month old account, making the average age about 9-10 months.

[ESA2012]

Oh I see. So after disput will it be included again. Thanks!

[Shogun]

Yes, once verified, it will be included again.