03-24-2014 07:49 AM
03-26-2014 07:27 PM
I know this isn't for TU, but i recently had an Charge off fall off my experian , and my score went up by about seventy points or so . I do have an fair amount of inq that may be holding me back i think seven or eight just last year.
03-27-2014 06:25 AM
03-29-2014 03:51 PM
My foreclosure from 2007 and a 2007 collection fell off and were my 2 last baddies. So when one goes from a flawed to clean report, what has happened to others in this situation score wise?
When a baddies falls off one's report, it can have a very positive outlook from a prospective lenders point of view, given that it's the only baddie listed. Nevertheless, the effect of the baddies has already taken its negative impact on your score the day it was listed on your report. As the derog ages, it's impact is less significant and the score moves incrementally upwards, assuming nothing else changes in the report...no new accounts, inquires, etc.. But as real life has it, our reports can change drastically over the months and well into years, and thus the derog's impact is lost somewhere in the mix.
but, as I've said, as time goes by, the impact is less against your score. But, any derog, no matter how old, can still be a negative factor against you when applying for any type of credit. I've had a negative listing used against me in a CC app, even tho it was a few months shy of The 7 1/2 year mark of falling off. That's where recon comes in handy, but that's for another topic.
anyways, it's wonderful that your report will be squeaky clean once those derog's come off. But I wouldn't expect a point jump of >100, since, by the look at your scores now, the derogs have no instrumental impact on your score whatsoever. However, a person with scores well below 600 can see a great jump, regardless of how long ago it's been. That's what happened to me. I had so many CO's on my report that adding anything positive was impossible. Had to wait till they aged or fell off till I was able to build. When negatives fell off, I saw my score jump from 450s to high 500's within a year...without adding anything to my report, except the negative listings being removed.
03-31-2014 06:08 AM
When my one and only baddie dropped off my average score increase was 51 points