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I have 1 Charge Off account reporting $0 balance from WEBANK/FINGERHUT that should fall off by the 4th quarter of this year, i have read that its possible to get it removed 6 months early ? How much points can i expect to gain from this ?
@Mdowning30 wrote:I have 1 Charge Off account reporting $0 balance from WEBANK/FINGERHUT that should fall off by the 4th quarter of this year, i have read that its possible to get it removed 6 months early ? How much points can i expect to gain from this ?
What other derogatory information is showing on your reports besides this CO ? Are there late payments, and if so, how many / severity ? IF the CO account is your only negative account then I'd expect a nice bump to your FICO scores, probably 50+ points.
Thats the only derogatory account, i do have a late car payment thats about 2 years old.
@Mdowning30 wrote:Thats the only derogatory account, i do have a late car payment thats about 2 years old.
Unfortunately a late payment counts as a derogatory item. So that will reduce your point gain.