Settlement is working out for the positive

Anonymous — Wed, 29 Mar 2017 23:44:23 GMT

Well about 6 weeks ago I did a settlement with Chase. The account was closed and had not been updated since 2015. I was really nervous about the activity re waking the sleeping bear and destroying my score.

I needed to take care of it because there was a balance and the mortgage lenders needed it settled or paid for a refinance

Well 3 weeks ago I freaked out because Chase opened the account on all three and applied the settlement. But did not report the zero balance which caused my UTI to get messed up.

My score crashed 30-35 points.

Yesterday I called chase and asked if they could update the reporting to reflect a zero balance as agreed to in the settlement.

Today Experian showed activity. My score climbed from a 650 to a 697. The funny thing is that it actually went higher than it was before settling so the settlement definately was a good move for me. I expect the other two to sit around 705 and 712 based on where they are right now,

Plus I just paid down my last card to under 8% which is reporting this weekend. im going from over 50% to under 8% which I think should give me a bump

Also got a 500 limit card bumped to 4500.

When I run the scoring simulators it looks like I cap out around 715/720

I guess thats becaus my negatives are holding me back from going any higher.. cany wait until next year when they start dropping off..

Re: Settlement is working out for the positive

gdale6 — Sun, 02 Apr 2017 18:48:00 GMT

Grats on getting that taken care of. You can request GW deletions of other lates that may be reporting if you have not already done so.

topic Settlement is working out for the positive in Rebuilding Your Credit

Settlement is working out for the positive

Re: Settlement is working out for the positive