topic Re: rescore with 1 large CA deleted? in General Credit Topics

rescore with 1 large CA deleted?

Anonymous — Thu, 18 Aug 2011 23:36:06 GMT

Ok, now before I get a lot of response that every person may experience different results based on the overall credit profile… I do understand that.. So please I dont respond with that.

I KNOW.

I am loooking for responses from someone that may have had a similar profile to me....and so looking for them to reply…

So....

My lender just submitted for a rapid rescore.

I am just 9 points short on my middle score with Equifax to buy a home

I have just 3 negatives left... everything else is a zero balance, paid as agreed. Last late payment was at least 6 years old.

So... whats left...

1 charge off (with OC) 4 years old $2000

1 collection 4 years old $200

1 collection 2.5 years old $2200

I have a deletion letter (they were reporting wrong data and could not back up my 623 dispute) from the last place for $2200 that my lender sent in for rescore. This will leave me with one charge off and one collection.

Has anyone had a similar profile…. and if so, did your score go up and if so, how much...

****YES....I know I will know soon but they said it could take a few days and this is helping me keep my mind busy****

Re: rescore with 1 large CA deleted?

Booner72 — Fri, 19 Aug 2011 03:28:34 GMT

I got 15 points when I got my most recent collection deleted.

Zero points when I got 3 deleted that were in the middle of the messes.

Re: rescore with 1 large CA deleted?

haulingthescoreup — Fri, 19 Aug 2011 04:16:15 GMT

@Anonymous wrote:

...1 charge off (with OC) 4 years old $2000
1 collection 4 years old $200
1 collection 2.5 years old $2200

I have a deletion letter (they were reporting wrong data and could not back up my 623 dispute) from the last place for $2200 that my lender sent in for rescore. This will leave me with one charge off and one collection.

Has anyone had a similar profile…. and if so, did your score go up and if so, how much...

You're stuck in the serious derogative negative score bucket as long as you still have a collection and/or charge off reporting, but since this is the more recent negative, I'm guessing that it would help you to get it off, because then it will be 4 years instead of 2.5 since your last negative, and "recency" is a big part of scoring with negatives.

Can't do much more than guess --10 points? 15? --as to score change, other than to say that when the LAST one comes off, if you have no other negatives, you'll probably see 75 points. It's that dramatic. For now it's incremental, but again, it should help that it's the recent one.

Sorry I couldn't give you anything from personal experience, but good luck!

Re: rescore with 1 large CA deleted?

Anonymous — Fri, 19 Aug 2011 16:30:48 GMT

Thanks for the response... That is hopeful. I only need 9.... So I am so praying. ......

I looked again to check the dates...

This one lists the DOFD as 4-09.

The other 2 are 1/08 (sooner than I thought) and 3/06.

And like you, I have had a few others in the middle show no change...

I know the item is now gone as of this am so now just waiting to hear from lender.....

I will post when I get a response for anyone else in a similar boat...

Re: rescore with 1 large CA deleted?

Anonymous — Fri, 19 Aug 2011 16:33:21 GMT

Thanks for the feedback. My lender guesstimated at about 12 points. I just need 9 so I am hoping...

I still plan to get these last 2 items removed. Right now just working to get that last 9 points so I can finally buy a house and stop renting..

I have come along way. I was about 480 middle this time last year. I am now 631 middle..... 605 low and 641 high. So I am pleased with this for now.

Re: rescore with 1 large CA deleted?

Booner72 — Fri, 19 Aug 2011 16:59:06 GMT

Waiting is the worst. I hope you get your 9 points!

Re: rescore with 1 large CA deleted?

Anonymous — Fri, 19 Aug 2011 17:37:11 GMT

Can you explain what you mean by "buckets?"

I have a derogatory (collection from Feb. 2010 that is now paid) that is reporting to just one credit bureau. The diff. between my scores is vast because it's only on one report and not the other. I'm trying to get that collection off, but if I don't, is there a ceiling on how high my score with the collection on it can go? Is that what you mean by "buckets?"

Re: rescore with 1 large CA deleted?

Anonymous — Wed, 24 Aug 2011 23:26:46 GMT

Just an update. This did not give me even one point in my score...Very

Re: rescore with 1 large CA deleted?

Booner72 — Thu, 25 Aug 2011 00:06:09 GMT

....very ??? --- BUMMER. What now?

Re: rescore with 1 large CA deleted?

Anonymous — Thu, 25 Aug 2011 17:59:03 GMT

meant to type very frustrated... hit enter by mistake.

I am going to try to settle capital one for less than owed . Hoping they will agree to mark my account as PIF. Will get in writing first of course.
This would pretty much guarantee my score would be high enough.

I did that with another OC and it shot me up about 20 points. My lenders estimator said it would give me about 36 points....

so, I am calling them tomrrow with a 40% offer..... .. I will post my results....

Re: rescore with 1 large CA deleted?

Booner72 — Thu, 25 Aug 2011 20:42:05 GMT

So this would reduce your utility then? That is a great way to get pointage ! Good Luck to you.

Re: rescore with 1 large CA deleted?

Anonymous — Thu, 01 Sep 2011 19:46:19 GMT

I offered 40% but they could only do 50% but will show a ZERO balance. So I am paying that as soon as I get that in writing... They dont email so I had to wait for the postal mail...

Then, they report on the 11th so this should do the trick....

I will let everyone know for sure what it happens in case they are in a similar boat.

Re: rescore with 1 large CA deleted?

Booner72 — Fri, 02 Sep 2011 00:58:38 GMT

Hang on, sista - before you rush off to pay them, having them update it to a zero balance won't help your score one tiny inch. In fact, when the collection agency I was paying off updated my balances to zero, i LOST one point (as this caused the reporting date to be most current).

In order to get any pointage, you are going to have to get them to agree to DELETE the account. They are likely to do this since you owe them money, but once you pay, it may very well be too late and your only hope would be that they delete out of the goodness of their hearts (goodwill letter).

You are in a position to negotiate now, but not after you pay.

I'm not saying don't pay it - bc paying it will be good and they will be out of your hair. But it won't help your score, unfortunately :*(

Re: rescore with 1 large CA deleted?

Booner72 — Fri, 02 Sep 2011 01:00:22 GMT

Oh wait now - is this a credit card you are paying off? So this account is affecting your utilization? If that is the case, then that Should definitely do the trick. I thought you were talking about a collection account like a medical bill or something.

Re: rescore with 1 large CA deleted?

Anonymous — Fri, 02 Sep 2011 15:26:29 GMT

Correct. This is with the OC not a collection agency... My lenders"score estimator" said to expect about a 36 point increase. Not to mention once this is paid, I will be debt free with this other than my car payment...

Just waiting for the letter to come in so I have it in writing first....

Re: rescore with 1 large CA deleted?

Booner72 — Sat, 03 Sep 2011 15:20:53 GMT

Great! Good luck, let us know your new pointage!

Re: rescore with 1 large CA deleted?

Anonymous — Fri, 23 Sep 2011 19:34:17 GMT

Got the letters, paid it and got a receipt with a letter from them saying my account is paid with no further money owed .. Lender used for a rapid rescore on the 14th... I am still waiting....

They are telling me Capital One will not confirm.... Even tho I gave them permission....

I dont know what to do now....

Re: rescore with 1 large CA deleted?

haulingthescoreup — Sat, 24 Sep 2011 04:05:00 GMT

edit: whoops, sorry, I was replying to the wrong post.