Re: Paid Charge-Off
10-09-2012 12:03 PM
Regardless of the score change, your lender probably will require you to show a $0 balance. It's also factoring into your DTI. If I had that I'd take the steps now to update it via a dispute (assuming the account is younger than your AAoA) or call Barclays. You can always GW them at the same time. Who knows. Maybe they'll delete some of the lates, CO reference, etc. There's a risk they might delete, which could help or hurt depending on its age. It could also be factoring into util, though without an update in 3 yrs that isn't as likely.
I have another question about the AAOA. Equifax is showing my AAOA as four years. This is probably due to my numerous student loans because my oldest account is about 16 years old. If the Barclay's account which was opened in 2/07 was deleted (along with its Charge-off status), would the benefit of the charge-off deletion outweigh the ding to my AAOA if any? Thanks!