6 Defaulted Student Loans Removed from Experian Score Result?

[Anonymous]

Experian is the first CRA to reflect my rehabbed student loans.  The SL company removed 6 loans totaling $72,500.  Prior to this, the TLs showed 120 past due.

TU and EQ haven't updated yet.

My score change......drumroll

Yesterday:  606 (before the removal of TLs) I checked my fico yesterday

Today:  607 fico today!!!!

WTF?  How in god's green earth could you say that from a statisical standpoint, that yesterday with $75,000 seriously past due and owing and today I am STATISICALLY the same credit risk?

Experian is a CA, pure and simple.  Keep the scores low, increase the loan percentages.  That's why EVERYONE is pulling experian.  Again, low fico = high loan percentage.  We'll see what TU and EQ do.

[Anonymous]

If they have been defaulted for over 2 years they weren't hurting you score nearly as much as you think they were. When they start to show regular payments and current status you will see your score increase.

I had a $1200 collection fall off my EX report that was 3 yrs old. My FICO jumped exactly 0 points.

[Anonymous]

I agree with Bam..I had a judgment and baddie fall off at one time.....Increase no decreased by 1 pt.....

[Anonymous]

Nope.  They were only 18 months old.  In fact, my average age for all accounts should have GONE UP after they were removed....

[Anonymous]

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@Anonymous wrote:

Nope. They were only 18 months old. In fact, my average age for all accounts should have GONE UP after they were removed....

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Well 18 mos should have netted you an increase. I had a single 60 day late removed from TU and I went up 22pts. It was about 18mos old.

[Anonymous]

When my SL's were deleted from EX I dropped 15 points.
Age do not change.

The were in OK/current but they had 6 lates x 4 accts. last late Dec 06.

I have said it before "understanding Fico is a Oxymoron"

AND I disagree with "Fico does not have a memory"

I also believe that the update to the score sometimes takes a day or 2 to happen even though it should be INSTANT.

Message Edited by Timothy on 09-06-2007 05:05 PM

[Anonymous]

Update TU updated:

FICO (9/4): 600

FICO (today): 621

TU and EX have the SAME information on their reports.

I'm telling you, the Experian business model is such that keeping ficos down is profitable.