How Many Points for Delete?

[Seansoulo]

I went to refinance my home in April 09 and learned that FAKO(freecreditreport.com) and FICO scores vary quite a bit. My FICO scores as pulled by the lender were TU 501 - EX 586 - EF 601. The FAKO's were lower. I need a 620 mid score to qualify for FHA. Luckily my lender told me the steps to take, and along with this board I have been getting information removed and corrected on my CR's. It takes leg work but we all can do it!!!

Just got a new EX report and was surprised to see 8 bad accounts deleted after successful PFD requests. I only have a few more negative items remaining, one of which I got deleted after sending the CR's proof of PFD agreement with CA. Another was an old phone bill that falls off next year, so I didn't bother with that one, and I had an old Capital One account that just passed the 7 year reporting period, so I requested that be deleted as well. So overall, I went from having 12 potentially negative account and 16 positive, to 3 potentially negative (all over 2 yrs and/or paid/closed) and 19 accounts in good standing. I got a secured credit card as suggested by the lender to push my score, and had a couple of student loans go into repayment...all paid on time and current.

I plan to try to refi again in August while I wait for all 3 CR's to be updated. I hope to be in the mid 600 to 700 range come August. Approximately how many points does a person gain from having negative items deleted?

[Anonymous]

There is no set points that one will get from each account removal.

Some experience no increase, some a little, some a lot, and some even experience a decrease.

It all depends on how old the accounts were, the date of status, last date reported, who was reporting, if you have more negatives and the age, etc on those,  if an OC account how much positive it was adding(because even negative accounts that are reported by the OC can add positive to your CR), if you are rebucketed, etc.

While I didn't see much increase as I lost negatives, even experienced a decrease at one point, I found that my score rose much faster after having the accounts removed.

[Anonymous]

I personally gained about 20 points (on TU report) after having 5 CA accounts deleted, but I had 6 CAs to start with, as well as some old lates on student loans (almost 3 year old lates) and a charge off (almost 3 yrs ago).  My EX and EQ haven't changed much, though they had a few more collections than TU and "Verified" ones that TU deleted.   Your score change could be vastly different. 

Have you checked your scores since you've had all those deleted? I use FAKO scores to keep an eye on mine, even though they aren't completely accurate, they weren't too far off the scores the mortgage broker showed me.  (TU is 629 by broker, 611 FAKO, EX 647 by broker, 655 FAKO, EQ i used MyFICO and the scores matched)

[Seansoulo]

Thanks for the advice. I haven't pulled my reports to check for possible updated scores as I am waiting for a couple of more items to be removed / corrected on EQ and TU reports.

[Anonymous]

can i asl what CA you had deleted?

[Seansoulo]

Unfortunately I had several accounts, but I managed to send them all PFD requests and nearly all of them obliged. The list is as follows.

• NCO Financial
• Allied Interstate
• Progressive Mgmt.
• Alliance One
• JD Enterprise & Financial
• CMI (Credit Management LP) simply updated my account as paid, but I then sent them a goodwill request to have the item deleted as well.

The only CA that said upfront that they could not do a PFD was ASSET ACCEPTANCE. And actually any CA can request a deletion from the bureaus if they choose to. The reporting CA can have information deleted, and if one CA can do it, they all can do it! ASSET ACCEPTANCE simply chose to be a-holes about the situation like the 1st three letters of thier company name implies.