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3 lates from 2016 removed how will this change my credit.

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3 lates from 2016 removed how will this change my credit.

I had 3 late payments on an installment loan Feb, March and April was reported 30 days late. The bank and now went back and corrected this due to their error and its now reporting as current. Does any one have an idea of what i might expect to happen to my score? This is for transunion only, they reported it correctly on my experian report 

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Super Contributor

Re: 3 lates from 2016 removed how will this change my credit.

We don't know enough about your profile to give a solid answer here.  Do you have any other late payments on your file?  If so, the improvement may not be significant.  If not, you could see a nice bump.

 

How much higher is your EX score than your TU score?  Assuming the other information is identical between the reports outside of the incorrectly reported late payments, I guess you could anticipate your TU score rising roughly to around where the EX score is, +/- 10 points or so.

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Regular Contributor

Re: 3 lates from 2016 removed how will this change my credit.

Without knowing your profile I will assume if you have no other Degrogs or late payment you should see anywhere from a 10-25 point increase.Now if other negative info then gain will next t nothing.Assuming you had higher scores before lates I would say you should get back same scores.

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Super Contributor

Re: 3 lates from 2016 removed how will this change my credit.


@silkysean wrote:

Without knowing your profile I will assume if you have no other Degrogs or late payment you should see anywhere from a 10-25 point increase.Now if other negative info then gain will next t nothing.Assuming you had higher scores before lates I would say you should get back same scores.


There is no way without knowing a lot more about his file if he'd gain 10-25 points.  For example, if his AAoA is < 1 year verses an AAoA of 10 years there would be a significant difference on how those profiles reacted to the addition or deletion of isolated late payments.

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