Re: Paid Charge-Off
10-09-2012 12:35 PM
AAoA is the avg. age of all OC accounts whether opened or closed, good or bad. It's a fairly significant component of FICO scoring. I've personally lost points just by removing old COs. What I look for is 1) whether or not AAoA drops (remember, FICO measures it in whole years), and 2) whether or not is is my oldest account overall or oldest revolving in this case, and 3) whether or not the baddie aspects will drop soon making repair a moot issue. I personally don't mind losing a few points in order to have a cleaner report. If it isn't the oldest and/or AAoA doesn't drop by more than a year (doesn't sounds like it if you have 16-yo accts), then I'd pursue repair via a GW or calling them or a dispute (since it is reporting incorrectly).