How much does a ~5yr old c/o affect my credit score?

[nomoore]

My TU FICO score jumped almost a hundred points when I successfully GW'd a 6 year old c/o, a repo'd car that I was co-signed on. It was the only negative on my report. The first TU score was 682 and was pulled from here (TU98?). The second was a month later and was from an AMEX approval. I don't know what version of TU FICO amex uses but regardless, that was a HUGE leap in my score. Of course everyones credit profile is different and you have a much thicker credit profile than I do so YMMV.

[RobertEG]

As has been pointed out, the date of the CO is immaterial to CR exclusion date.

What is the DOFD on the OC account?  FCRA 605(c) requires exclusion of the CO after 7 years plus 180 days from the DOFD.

[Anonymous]

According to my EQ cr the "Date Major Delinquency First Reported" is 11/06. This first 30 late is aug '06.

[Anonymous]

Thanks everyone who has posted here. This is giving me good feeling. I have a 7 year old collection that will fall off next month from EX and the following month from TU and in April for EQ. I would do pulls for TU and EQ before and after, but they cost $20 each. I probably won't pull TU because it is a '98 score and useless. I think I will pull an EQ when I confirm it has dropped off and let you know that score versus the 686 I pulled back in May. My lender pulled a 690 for EX and my TU is usually a little over 700. I really hope to get all my scores over 735 when this finally drops off.

[Anonymous]

Here's an update on the GW letters I sent out  last week.

I sent the letters out to the address on my CR and to the CEO in north carolina.  I receieved a call today from a rep in Los Angeles. She went over my letter and said she might be able to get the c/o off. It seems the only way they will remove a c/o is if it is a bank error.  She said there's no guarantee but I'm happy I wasn't just shot down on my first try.

[CS800]

I have a CO that's supposed to be coming off my EX this year according to my official EX report (scheduled to report until Dec 2012) SO im hoping to get some kind of boost from this.

[RobertEG]

Just as significant as its impact on your three digit number is its impact upon any manual review of your credit report.

A charge-off results from a statement by the creditor that the debt was delinquent to the point that they considered it "uncollectible."

Not a very flattering official statement by a former creditor.

[Anonymous]

Success!

I received a call from Bofa and they will be removing the c/o from my cr. I should be getting a letter from them in the next few days and they said it should be off my cr's in 30-45 days.

I wish I had done the GW letter sooner.  Maybe since they admitted fault they will refinance my mortgage rate to an appropriate rate for free?..... or maybe that's pushing it.

[pizzadude]

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@Anonymous wrote:

Success!

I received a call from Bofa and they will be removing the c/o from my cr. I should be getting a letter from them in the next few days and they said it should be off my cr's in 30-45 days.

I wish I had done the GW letter sooner.  Maybe since they admitted fault they will refinance my mortgage rate to an appropriate rate for free?..... or maybe that's pushing it.

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Wow !!  That's great that they will be removing it ~ hopefully you will get a nice score bump....

You are one of the only people that has ever successfully achieved success with BoA, I guess it helped that they realized it was their mistake.    Congrats !!!

[Anonymous]

Bofa removed the c/o from all three cra's. I've yet to recieve the letter though, could it be they sent it to the wrong address?

My score went up to 771