Paid BOA charge off Score dropped 46 points!!! Help Please!!

[guiness56]

What is your utilization?  Even CO accounts can factor into that if the balance and CL are reported.

Do you have any revolving?

[Annjilique]

Those two accounts are the only revolving the other items on my report are collections. How do I figure the utilization?

[guiness56]

Total amount of balances divided by the total limits.  That gives you the aggregate utilization.  Each card also can be figured the same way, balance divided by limits.

[Annjilique]

Not including the BOA account because its at zero, that would put me at 154%. Boa wasn't reporting a limit.  Status also went from charge off to 120 days late for boa

[guiness56]

Wait until the FP posts.  Do you know how they intend to report it?  Settle for less won't be good.

If it is only your FP that is factored into your utilization your score should go up.  You will also be left with no open revolving accounts. 

[Annjilique]

I did the fresh start program with Jefferson capital so eventually the emblem card will report a positive TL. With that program first premier is supposed to delete ( but I won't hold my breathe) so I'm nto sure how it will report after that.

[Annjilique]

Should I dispute the new late entries or the account status being 120+ days late. MyFico. SW alert said there were new missed payments and that's why my score dropped.

[guiness56]

Jefferson is a CA.  Is that who reported the lates?

[Annjilique]

No Jefferson was handling my first premier account, so I settled with them. I really need to app for a car loan like tomorrow. I was hoping that paying the charge offs would help.

[Shogun]

Paying the COs will help, even though your scores may not show it.  While applying for a loan, it will more than likely go before a UW.  They will notice if paid or not.