What's the Effect of Soon To FallOff Derogs?

[PayYouNever]

In reading many of the posts regarding the effect of derogs on one's CR, many people have stated that when a derog is about to fall off your CR it doesn't affect your score that much... is that true?

[fused]

It really depends on the type of derog and if it changes your credit length and average age of your accounts. FICO scoring doesn't show much love with 7 year lates and collections falling off.  

[SmartCookie]

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PayYouNever wrote:
In reading many of the posts regarding the effect of derogs on one's CR, many people have stated that when a derog is about to fall off your CR it doesn't affect your score that much... is that true?

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The older the derogs the less they are impacting you negatively

As far as what will happen with your score, it depends on the big picture IMHO if that is the only derog I think you would see a better jump.  I wish we all knew the exact formula, for instance, if that derog is a credit card that impacts your credit length... etc.

[SmartCookie]

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fused wrote:

It really depends on the type of derog and if it changes your credit length and average age of your accounts. FICO scoring doesn't show much love with 7 year lates and collections falling off.  

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lol fused beat me to the punch.  What he said! 

I just disputed a 30 day late on an old closed Providian cc account.  Well, nice of them to choose to wipe the TL but I wanted the history.  I should have written instead of disputing online with CBR, and will now write to see if they will GW and reinstate history with CBRs.

[SmartCookie]

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SmartCookie wrote: 

I just disputed a 30 day late on an old closed Providian cc account.  Well, nice of them to choose to wipe the TL but I wanted the history.  I should have written instead of disputing online with CBR, and will now write to see if they will GW and reinstate history with CBRs.

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Responding here as well as over PM to someone who asked how I got this removed with Providian Bankcorp.  This was an online dispute with EX on the Providian TL... a closed account that should have been close to dropping but had a DOLA of May 2002.  I have no recollection of what happened... I was busy kicking an ex to the curb that year. 

TL showed closed by consumer, zero balance, with the derog of 'current status of credit line closed/not paying as agreed' and the 1 30 day late in Feb 2001.  TU and EQ showed Oct. 2001 with a normal status IIRC.

I disputed as 'never late' or whatnot and added comments that I was .. absolutely never late.  The entire CL was wiped in 3 days at most.  Hope this helps anyone not having any luck with GWs!

But again, I didn't want it deleted, just updated. 

Edit: add'l info

Message Edited by SmartCookie on 10-03-2007 04:05 PM