53 point score drop....

[Anonymous]

I posted on here a few weeks ago about a 42 point drop in Transunion after a charge off was removed. My last one just fell off Experian and my score dropped 53 points.... Just venting, I was informed about buckets

[Anonymous]

What's the source of your scores, and have you pulled your reports to see what has changed?

[AllZero]

---

@Anonymous wrote:

What's the source of your scores, and have you pulled your reports to see what has changed?

---

For context. Which may or may not help. https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/46-point-score-drop-after-collection-removal/m-p/6255565

[thornback]

---

@Anonymous wrote:

What's the source of your scores, and have you pulled your reports to see what has changed?

---

@Anonymous OP is using myFICO.  The last time scores were pulled the day prior to removal. The removal (their last major derog on TU) appeared to be the only change. OP also has a few late payments (30, 60 day) from 2016 so still dirty. 

But @Anonymous -- in our last convo you said your major derogs were collections - now you mention a chargeoff.  Can you clarify whether these removals are chargoffs or collections please?  

Ty @AllZero 😊

[AllZero]

---

@thornback wrote:

Ty @AllZero 😊

---

[Anonymous]

And remember age is going to play a factor and now we don’t know whether it’s PR or delinquency card.

[Remi1]

I'm not sure if this is typical to most experiences or not.. but my best friend who I was helping with their credit score had their  collections paid and deleted/drop off the reports and was expecting a big bump on their next month's update,  but got a 40-50 point drop instead, then the following month it shot up a little over 100 points. Which made up for the drop and then some. Again, not sure if this is normal but keep an eye on your scores and see what they do in the next month or two?

[Anonymous]

That’s a good point a lot of times they update and then delete.

[Anonymous]

I am a relative newbie, I don't post often so I don't have the terminology down. I get my scores from Myfico and I monitor almost daily because I have rebuilding so very carefully. I had (a lot) of collections from 2014, which were settled and paid. They fell off due to the 5 year rule in NY. There were 3 charge offs that went into collection but the creditor pulled them back because I emailed them; those were settled also. Because I had them back as charge offs, they were then 7 years (I thought I was helping). One fell off  a few months ago, another that was only on Transunion fell off two weeks ago (42 point drop) now the other just came off Experian so 53 point drop. I have one late with GM remaining from 2016 which I just emailed about. It's very discouraging

[thornback]

---

@Anonymous wrote:

I am a relative newbie, I don't post often so I don't have the terminology down. I get my scores from Myfico and I monitor almost daily because I have rebuilding so very carefully. I had (a lot) of collections from 2014, which were settled and paid. They fell off due to the 5 year rule in NY. There were 3 charge offs that went into collection but the creditor pulled them back because I emailed them; those were settled also. Because I had them back as charge offs, they were then 7 years (I thought I was helping). One fell off  a few months ago, another that was only on Transunion fell off two weeks ago (42 point drop) now the other just came off Experian so 53 point drop. I have one late with GM remaining from 2016 which I just emailed about. It's very discouraging

---

Chargeoffs are included in the age metrics for scoring (collections are not).  Sounds like the point loss is combo of scorecard reassignment and loss of age (i think the bulk of the loss is coming from the loss of age).