@AnonymousI have a student loan that reported a 90-day delinquency in error. The late payment is about 6 months old. I called and they agreed to remove the 90-day delinquency. How many points will my score increase? How long will that take to show up on my score? We are currently in the process of getting a mortgage and need a couple points to put us in a better interest rate. Thanks!
If this is your only negative item present, you could stand to gain 80-100 points easy. If you have other negative items, that number drops significantly to just a handful of points all the way to nothing depending on the age/severity of your other negative item(s). Major diminishing returns exist when it comes to negative items.
How long it takes to be reflected in your scores depends on the amount of time it takes the lender to report the new (not late) information to the bureaus and then how long it takes the bureaus to show the update. Typically this should happen within a week (really a matter of days) but could take a few weeks I suppose.
If I did not see the change happen within a week or two I'd call the lender and let them know that you're requesting a re-reporting of the clean account, as you're going for a mortgage and that's the only thing holding you up.
