Charge Offs/ Collection accounts

[fused]

---

@AndySoCal wrote:

I think there is no difference scoring wise between a charge off and collection. If one is more recent in time than the other you might see a bigger increase when the more recent one is removed.  With Tthe FICO scoring system the more recent the derogatory item the greater the impact on the score.

---

I respectfully disagree. Like Guiness stated, CO balances do factor in util calculations. Its also important to note that balances on collections never factor in util calculations.

[Anonymous]

Thank you all for your responses. So does this mean a co being deleted will mean more points than a collection being deleted?

[MarineVietVet]

---

@Anonymous wrote:

Thank you all for your responses. So does this mean a co being deleted will mean more points than a collection being deleted?

---

I think we can all agree that either one being deleted will help. No one I believe can confidently predict precisely how much any score will change by the removal of a major derogatory entry. Just be glad it is gone!

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

[AndySoCal]

The question was which helps more if it is removed. The ding on the util is only true if the account is revolving which is unknown from the original post.  The greater impact than the possible ding for the util is how recent the charge off occured. I answered the question as given without reading more into it.

[RobertEG]

Josh, I think the culmination of all the responses you have received boils down to a yes or no!

A CO is almost always preceded by posting of pior derogs on the OC accunt.

Then a CO is posted by the OC

Then, if a CA is posted by a third party CA,  you have three rounds of indpendent posts to your CR.

If you secure removal of a CA, that in no way compels the OC to delete their prior posting of monthly derogs, or any CO.

If you secure removal. by negotiiation with an OC. for removal of a CO.  that does not compel a CA to delete their prior reporting.