Late Payment Effect??

[theheater30]

Do recent late payments have less of an effect after the account is paid and closed?

The reason I ask is because I had a car totaled last year, gap insurance took about 9 months to pay off the last 3k owed on the car so I accrued some 30 day late payment remarks on my credit. The account was finally paid off by gap in August 2015 and closed.

Just recently I was able to get those late payments removed.... there were 3 from last year. I only have 1 other late payment on my report.

However after those late payments were removed my score did not even go up by 1 point!! I even pulled all 3 reports, the change is reflecting on my credit but no movement in my score.... Grrr is there a reason why? I have 0 collections, liens, charge offs, or judgements so I thought the late payments were having a larger impact on my score.

[RobertEG]

I presume that the lates were removed as a result of a dispute that you filed.

Therein may be the answer.

When you dispute, the effect of the lates are temporatily removed from scoring until the dispute is resolved.

Thus, the during dispute and after dispute scores could end up being the same if the dispute is resolved in your favor.

Normally, paid and closed does not directly affect scoring.

However, if unpaid, then updating of delinquent accounts can effect scoring, as it informs FICO that the debt is now a deepter delinquency.

[theheater30]

I didn't dispute but I called the company directly to have them removed so maybe they entered in a dispute?? I just found that quite odd that my score didn't budge at all. Maybe a dispute is the reason!