topic Re: Was this a good or bad thing? in Rebuilding Your Credit

Was this a good or bad thing?

Ally_j135 — Wed, 18 Jun 2008 16:49:47 GMT

I sent a GW letter to Providian (now washington mutual) saying that I has an old acct and it had 1 60 day late and 2 (30) day lates from 2002 and 2003...I know removing them wouldnt count as much but I wanted the lates off. I closed the acct and paid it in full in 2004. I got a respnse today saying they cant verify the acct and there removing it entirely off my CR. Now, the acct is my 2nd oldest acct ...it was opened in 09/2001. However, I have a acct from 01/2001 and it is now a chargeoff (my only one) and appears on my credit report (it was paid in full in 12/2006). My question is will this removal affect my score negativly even though the charge off is still there to show I have a history of credit from 2001. Also I have a student loan (installment) from 2000.

Also, if not negativly then will I see an increase? or is the acct to old to even show that?

Thanks for responding in advance!!!!

Re: Was this a good or bad thing?

Anonymous — Wed, 18 Jun 2008 18:07:57 GMT

Depends on the gap between you accounts...after this account...when was your next account opened???...

I got a collection removed from my reports a week ago...it was my second to oldest account...and I lost about 18 pts on EX...maybe that was because...the next time I opened an account was 3 years later...so it hurt my average age...but I'm willing to sacrifice that...for a baddie...

But in your case....I think you should want to keep it...it was not a CO...or anything...so I would explain to them....you just want the negative notations deleted...no the entire TL...the lates were so long ago...so they aren't hurting that much...but you need that history...

Re: Was this a good or bad thing?

Ally_j135 — Wed, 18 Jun 2008 19:57:37 GMT

Are installment accts included in your average age of accts?

Re: Was this a good or bad thing?

Anonymous — Wed, 18 Jun 2008 19:59:10 GMT

Installment accounts are included.