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How will deleted LVNV trade line affect FICO score

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Regular Contributor

How will deleted LVNV trade line affect FICO score

I've dealt with LVNV funding for over 7 months, finally giving them the knockout punch thanks to the BBB.  They are removing their trade line from my credit reports. They currently are listed as follows on my CRs:
 
Experian:
open account
factoring account
1 month installment term
3 90+ lates in March, April, May 2008
 
Transunion:
Open Account
Factoring Account
Collection Account
No Lates
 
They are removing the trade lines from my credit reports at their next reporting cycle.  Will my scores see a bump up when they are removed? 
TU 673 EX (720 Credit score) EQ 690 (08/2009)
TU 698 EQ 697 EX ?? (07/2010)
Message 1 of 8
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Moderator Emeritus

Re: How will deleted LVNV trade line affect FICO score

Some have reported anywhere from 20 to over 100 points by removing a CA. It would depend on several factors, including how it is reporting, how old it is, and how many CAs you have besides them.
 
Keep us posted! Congrats!
Message 2 of 8
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New Contributor

Re: How will deleted LVNV trade line affect FICO score

I got 40 points for removal of a 5 year old paid collection. I just filed with the BBB for LVNV.  My adventure has been since December so here's to hoping!!
I'm a homeowner! Woop woop-
Message 3 of 8
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Regular Contributor

Re: How will deleted LVNV trade line affect FICO score



teamllovern wrote:
I got 40 points for removal of a 5 year old paid collection. I just filed with the BBB for LVNV.  My adventure has been since December so here's to hoping!!


I just ran my FICOs for this month.  LVNV is finally off my EX report but still on my TU.  I got no bump up in points on EXand TU remains the same.  My only change was EQ up 4 measly points.  Smiley Surprised
TU 673 EX (720 Credit score) EQ 690 (08/2009)
TU 698 EQ 697 EX ?? (07/2010)
Message 4 of 8
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Moderator Emeritus

Re: How will deleted LVNV trade line affect FICO score



jsk300 wrote:


teamllovern wrote:
I got 40 points for removal of a 5 year old paid collection. I just filed with the BBB for LVNV.  My adventure has been since December so here's to hoping!!


I just ran my FICOs for this month.  LVNV is finally off my EX report but still on my TU.  I got no bump up in points on EXand TU remains the same.  My only change was EQ up 4 measly points.  Smiley Surprised


Do you have other collections?
 
You get dinged more for having the presence of a collection than the amount or how many you have.
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Message 5 of 8
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Regular Contributor

Re: How will deleted LVNV trade line affect FICO score



sidewinder wrote:


jsk300 wrote:


teamllovern wrote:
I got 40 points for removal of a 5 year old paid collection. I just filed with the BBB for LVNV.  My adventure has been since December so here's to hoping!!


I just ran my FICOs for this month.  LVNV is finally off my EX report but still on my TU.  I got no bump up in points on EXand TU remains the same.  My only change was EQ up 4 measly points.  Smiley Surprised


Do you have other collections?
 
You get dinged more for having the presence of a collection than the amount or how many you have.


On TU, Midland (felons) are reporting as an "open" account, with 120+ days late.  On EQ Midland (convicts) is reporting as a collection.  Midland (jerks) is not showing on my EX report, and LVNV (crooks) is off my EX now but still on my TU (waiting for them to update and remove per my OP).  I would have thought that the deletion of LVNV (thiefs) from my EX report would have garnered some sort of bump up. Midland (pond scum) are my next target as they never have validated as well.
TU 673 EX (720 Credit score) EQ 690 (08/2009)
TU 698 EQ 697 EX ?? (07/2010)
Message 6 of 8
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Established Contributor

Re: How will deleted LVNV trade line affect FICO score

On TU, Midland (felons) are reporting as an "open" account, with 120+ days late.  On EQ Midland (convicts) is reporting as a collection.  Midland (jerks) is not showing on my EX report, and LVNV (crooks) is off my EX now but still on my TU (waiting for them to update and remove per my OP).  I would have thought that the deletion of LVNV (thiefs) from my EX report would have garnered some sort of bump up. Midland (pond scum) are my next target as they never have validated as well.
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Love this post!
Think of it this way when the last collection is off you will get a huge bump! when the most recent baddie is off you get quiet a big bump...... the older they are the less impact they have on your report. I had a collection come off and then come back on and now is in reinvestigation and not one time did I get points taken or put back on as the acount is from 2001 now if the had reaged the dates it would have bombed my score! (its really 8 years old and is obsellte but they are trying to make it look like I made a payment in 2001 which I didnt)
6/9/08 FICO TU 697 EX698 EQ 618uti 6% (once new accounts hit) BIZ- DUNS 80, EX 35
GOAL 2008- 700s+ new car
2010 BE a first time buyer
Message 7 of 8
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Regular Contributor

Re: How will deleted LVNV trade line affect FICO score

Just ran my TU FICO and LVNV has finally dropped off.  They are now gone off of all my CR's. I did manage to get a 3 point bump on my TU score...Woohoo!  Now it's on to Midland and their gaggle of cronies.  They are reporting as an open account on EQ and collection on TU.  Already fired off letter to the BBB on San Diego as Midland never provided me with validation after 2 attempts.  We'll see if I get some action now against these low life, pond scum, bottom feeding scabs.
TU 673 EX (720 Credit score) EQ 690 (08/2009)
TU 698 EQ 697 EX ?? (07/2010)
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