Reply
Established Member
Posts: 21
Registered: ‎11-23-2008
0

To Delete or Not?

    Hello,

 I have been folowing these boards and have had some small successes with my scores. Right now I am sitting at about 593. I contacted Wells Fargo (info below) about a goodwill adjustment to get rid of my numerous lates with them. They sent me a letter in Nov 2012 saying that they were going to delete the entire TL. It has not been deleted off any of my reports yet. If I do get it deleted will it help my score? I have one collection that is newer than this and all the others are old collections I am dealing with one at a time. Thanks in advance!

 

  WFFINANCE

Potentially Negative Closed

610-595-5300
2501 SEAPORT DR STE BH30
CHESTER, PA 19013
 Experian®Equifax®TransUnion®
 
Account NameWFFINANCEWELLS FARGO FINANCIAWFFINANCIAL
Account #XXXXXXXXXXXX
Account TypeAuto LoanInstallmentInstallment account
Balance $0.00$0.00
Date Opened2/1/20052/1/20052/21/2005
    
Account StatusClosedClosedClosed
Mo. Payment   
Past Due  $0.00
Payment StatusPaid, was past due 60 daysNot more than two payments past due30 days past due
High Balance $27,752.00$27,752.00
Limit   
Terms   
Comments PAID ACCOUNT / ZERO BALANCE AUTOClosed
24 MONTH PAYMENT HISTORY
  
2009   2010           2011       
SepOctNovDecJanFebMarAprMayJunJulAugSepOctNovDecJanFebMarAprMayJunJulAug
30OK30OK303030303030306030OK30OK3030OKOKOK30OKOK
30OK30OK303030303030306030OK30OK3030OKOKOK30OKOK
30OK30OK303030303030306030OK30OK3030OKOKOK30OKOK
Moderator
Posts: 13,892
Registered: ‎04-15-2011
0

Re: To Delete or Not?

You could lose some AAoA, they were minor derogs, but in the end, it's a baddie that will be gone.  Just make sure you replace with a good TL and keep getting those baddies off.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
0

Re: To Delete or Not?

I agree.  It might not help your score any, but it's going to help anytime you try to apply for another installment loan.  That's a lot of lates reported, it's best to try and start fresh.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.