Any ideas about the possible score impact of these changes?

[BoysMumx2]

Ok, I sent off GW to three creditors yesterday. One was mortgage co, now paid off, 2 30-day lates in 2002. One was auto loan, 2 30-day lates in 2002. Last was reaffirmed revolving store account, up to 90 days late, reporting in 2002 and possibly early 2003. The last reaffirmation was declined by BK court, but the creditor didn't accept the declined reaff. so we paid it.

If those do delete as well as 05/2008 the 5-6 accounts from the BK (varies by CB) will drop off, what is the range this can boost score?

I can't seem to figure out what it will do for me. Any ideas?

[haulingthescoreup]

Individually, they probably wouldn't make much difference, as they are so old.

But FICO holds a special place for those (like me) with lates on multiple accounts, so it's possible that you'll get something for having fewer accounts with lates, if that makes sense.

Sorry, I know that's a bit vague! But good luck, though.

[BoysMumx2]

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@haulingthescoreup wrote:
Individually, they probably wouldn't make much difference, as they are so old.

But FICO holds a special place for those (like me) with lates on multiple accounts, so it's possible that you'll get something for having fewer accounts with lates, if that makes sense.

Sorry, I know that's a bit vague! But good luck, though.

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Hmmm. That stinks. At this point I'd be happy if it brought me up 20 points. I'm at 673 EQ 687 TU and 721 EX. It would be nice to have those two lower ones hitting 700. I wish that the scoring was more transparent, ie, actual numerical breakdowns showing what the score was comprised of. It's very frustrating to this "quantitative analytical" mind to have no idea about the concrete impact. (Ok, I'm truly a control freak...)

[haulingthescoreup]

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@BoysMumx2 wrote:

Hmmm. That stinks. At this point I'd be happy if it brought me up 20 points. I'm at 673 EQ 687 TU and 721 EX. It would be nice to have those two lower ones hitting 700. I wish that the scoring was more transparent, ie, actual numerical breakdowns showing what the score was comprised of. It's very frustrating to this "quantitative analytical" mind to have no idea about the concrete impact. (Ok, I'm truly a control freak...)

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Yes, we math and logic geeks reveal ourselves pretty quickly here, don't we?

All I can share is my experience. When my 90-day went over 24 months, I gained 12-19 points. And when my 30-day showed as being disputed (which it's not) at 9 months, and stopped being counted, I gained 25 points. Every year that a late ages, its impact fades, which is good in most cases. But when you're looking for points to gain if the lates are removed, it's not so good.

I'm assuming that you already know about how to time your credit card balance reporting for maximum score impact? This is where you pay them down before the statement drops (posts; reports to the credit bureaus.)

[BoysMumx2]

It's nice to know I'm not the only "geek" on here.

I've got the timing on cc payments down to a fine art right now, so at least I feel confident about that aspect.

Perhaps it's that OCD aspect again, but I'd like to see a clean report - well, except for the BK7. I'll take my knocks that that one.