@Myusername101 wrote:
Back in 2019 I accepted a settlement for a $150 fingerhut/webbank charge off. I was ignorant and didn't realize it would stay on my credit as a charge off w/ late payments. Experian removed it but Trans and Equ are clinging to it for dear life and my score is stuck in the 600s with them. Now I'm trying to buy my first house and I have 2 questions: 1) How much do you think a 5 year old charge off is actually affecting my Trans and Equ credit score? I have nothing else negative on my credit so I figure this has to be the issue. My Exp score is in the 700s and this acct isn't on there. 2) If I try a goodwill letter and it fails (I know they rarely work for fingerhut) is it possible for it to wind up back on my Experian report? It's been off of it for like 2-3 yrs at this point. I don't want this to backfire.
Also, if anyone has any contacts for me to send a GW letter to for them, that would be greatly appreciated. From the research I've done on here, it seems like there's not really a good one.
Any 90 day late, or worse can cause a significant penalty on Mortgage scores, when it comes to more severe adverse information such as collections for example... paid, or unpaid...they're still scored the same. I'd guess that even after 5 years you could possibly be missing around 50 points on the Fico 5, 4, 2 models. Even your own information shows the difference between the 3 bureaus where its being reported, and not reported. Although you don't specify which score version those are, there's quite a discrepancy.
You don't mention how many other revolving cards you have, how many of them are carrying balances, and what the monthly reported utilization is? You could gain some points there depending on what your current usage looks like.
