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credit score change after deletion of negative account

graham1
New Member

credit score change after deletion of negative account

I defaulted on my student loans in Spring of 2014.  I went through the rehabilitation process.  After successfully completing rehabilitation, I went through the process outlined by many MyFico members to dispute the default information.  I disputed both the default information and the information leading up to the default.  In late April/early May of this year, i.e., I received notices that the disputes had been resolved.  All three credit bureaus completely removed the AES/PHEAA tradeline which included the default and all post-default information. I just confirmed this with a new three-in-one credit report.  The pre-default information was already reported under a different tradeline and was not removed.  I understand that the pre-default information is often not removed.  My problem is that the removal of the default and post-default information has made absolutely no difference in my credit score.  Maybe I am just impatient.  How long does it take after a negative entry is deleted for my credit score to go up?

Message 2 of 6
5 REPLIES 5
graham1
New Member

student loan rehabilitation

I defaulted on my student loans in Spring of 2014.  I went through the rehabilitation process.  After successfully completing rehabilitation, I went through the process outlined by many MyFico members to dispute the default information.  I disputed both the default information and the information leading up to the default.  In late April/early May of this year, i.e., I received notices that the disputes had been resolved.  All three credit bureaus completely removed the AES/PHEAA tradeline which included the default and all post-default information. I just confirmed this with a new three-in-one credit report.  The pre-default information was already reported under a different tradeline and was not removed.  I understand that the pre-default information is often not removed.  My problem is that the removal of the default and post-default information has made absolutely no difference in my credit score.  Maybe I am just impatient.  How long does it take after a negative entry is deleted for my credit score to go up?

Message 1 of 6
pcsavvy1
Regular Contributor

Re: student loan rehabilitation

I would wait 30-60 days before you see any changes to your CR's.  It takes time unfortunately for the CRA's to update an increase in your score, they are fast posting inquiries though.

BK Discharge Nov 2, 2015

CS Nov 2--Sept 83
EQ 513--636
TU 481--610
EX 483--637

Message 3 of 6
SCF
Valued Contributor

Re: credit score change after deletion of negative account

Once an item is removed from your credit, it is no longer impacting your score.  A complete removal of a tradeline effects multiple parts of your score - it may change your mix of accounts, average age of accounts, number of late payments, etc. Some of those things can increase your score, and others might decrease it.  Without having more information, it's impossible to say why your score didn't change.  Are you looking at a real FICO score? (As opposed to the FAKOs offered by services like CreditKarma?)  Go through your report line by line and identify any other changes that have happened since the last time you looked at your score, and that will likely lead you to an explanation.

Message 4 of 6
graham1
New Member

Re: credit score change after deletion of negative account

I certainly understand your point.  However, nothing else significant has occurred on my credit report during the pertinent period of time.  Also, the tradeline which was deleted was completely negative.  It is the tradeline which was added when I defaulted, and all entries on it were negative.  The new servicer of the post-rehab loan has not yet been added to my credit report.  I don't know if that makes a difference.  That said, it simply doesn't make sense that the most negative item on my credit report was deleted, and my score did not change one point.

Message 5 of 6
pcsavvy1
Regular Contributor

Re: credit score change after deletion of negative account

Credit Scores=Black Magic and Science

What helps?  What hurts?  When is ___reported?  What happens?  Does my score go up or down? 

 

I have found my score will bounce 3-4 points either way within a few weeks of each other and as far as I know nothing has changed.

 

 

BK Discharge Nov 2, 2015

CS Nov 2--Sept 83
EQ 513--636
TU 481--610
EX 483--637

Message 6 of 6
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