Help!! Late Payment Removal did not Change Score

[Deirdre316]

After months of figting with NelNet, and finally contacting the CFPB, I was able to get NelNet to agree that  they neglected to apply a deferment to my studetn loan account. I was reported to the CRA's for Oct 2018, Nov 2018, Dec 2018, Jan 2019 and Feb 2019 as late (150+ days).  NelNet sent me a response that they requested the late payments to be removed, and my account to be updated to be in good standing,   on Feb 7th. At the end of Feb when it didnt appear any changes were made, I called NelNet and they said be patient they were working on it.

Around March 7th, on Credit Karma I noticed the payments were no longer late, just "no data". However, there was no change to my score, and no alert that the payment history had been updated. I called Experian on Friday and the person I spoke to could not explain why my score did not reflect the late payment removal.

I am at a loss!! Does anyone have any insight? I really expected a bump from the removal.

[Remedios]

Have you looked at you Fico score or just Vantage score through CK? 

If you really want to know whether you gained points or not, you will need to see your actual FICO score.

If you havent seen your FICO scores before the change, it's going to be hard determining how much you gained if you have nothing to compare it to.

CK is good for monitoring your credit, but score is typically not relevant as it's seldom used for lending decisions.  

[Deirdre316]

Thanks, I monitor my Fico Scores constantly as I am trying to qaulify for a mortgage. NelNet removed one late payment the end of Jan and I received an alert on CK, that my vantage score had increased 35+. However, with these removals (8 or 10) since they are being removed from two student loans, I have not received an alert or a score change. Since the other one occurred at the end of the month, I am hoping I will see a change from these at the end of March; but not sure when/how scores are actually updated.

My TU was 592 now 581, my Experian was around 586 and is now  at 591; My Equifax vantage score is 576.

The 8 late payments removed were from 2018-2019 and all 150 days+; so I was expecting enough of a bump to qualify at 620.

At the same time as these removals. I had a positive tradeline added for my daughters car.  I am the primary and they just recently switched their payment processing to a company that reports to the CRA's. The accocunt was opened in 2019. and they show that as the original date, with no data available until Jan 2020 when they started reporting. Account has status of 'exceptional payment history'. I received a 2+ increase, my daughter, the co-signer 100+. I expected it to have a bigger impact on her because she had very little if anything on her report.

I have 3 revolving accounts all with exceptional payment history. CL is $32,500 for the 3 with a balance of $2500.

My student loans show the last late payment in July 2018 for 120 days.

I have one collection account for $365 that I intend to pay to delete.

I have one charge off from 2015 that I am trying to settle; I just noticed that they are reporting as a CO every month and my CR says 16 CO's - not 1? To they typically accumulate CO's and report them as more than 1?

I feel I am one step forward, 2 steps back constantly. Very frustrating

[Revelate]

That charge off likely carries the same weight as the tradeline you got removed, it certainly segments you from a scorecard perspective similarly.

You might have gotten a handful of points on FICO algorithms as the big score gains come on that final bit (or substantial additional history, even with a CO you can get higher than under 600 that's probably positive credit age), though I would suggest getting ANY negative information off is a fantastic thing regardless of immediate impact to scores.