Help Please!!

[Anonymous]

Good morning,

I want to start by saying this forum is GREAT... My husband passed away 10 years ago and I thought I would never see the light again as I was buried in loans and credit card debt.  Low and behold this forum has helped me to regain faith.  I am now back on my feet and have all my credit woes behind me.  My credit score is not the greatest but it is climbing each week. When I started this rebulid 1 year ago my credit score was down to 520, I am happy to say that my score is back up to 687 with Experian, 667 with Transunion and 590 with Equifax. Can anyone tell me why the differance in scores? Also my main question is I had 3 student loans that had defaulted in the past, they are paid in full now and have been for some time.  On my reports it stated they are to delete off my credit in 3/2018, when his delete will this give me a nice credit jump?? I have enough credit cards and loans now and I am keeping the balances low (except car payments, making each month payment). I feel like I have been stuck in the 600's forever and would really like to know why Transunion is so low.  Again thank you for your help, this forum is GREAT

[DollyLama]

Usually the presence of some other derog that is not reporting monthly to the other two bureaus. Are all derogs (only student loans?) present on all 3 bureaus? Do you have any collections or charge offs that are only reporting on one or two and not all three bureaus and monthly? Did you have any 30+ , 60, 90, 120 plus payments reporting in your credit rebuild?

[Anonymous]

The reason for the ~100 point variance between your top score and bottom score is without question the presence of negative information on the lower-score bureau that isn't there on your higher-score bureau.  You'll need to go through your 3B reports account by account to see what this/these negatives are, though.

In order to answer your question as to whether or not your scores may increase a good amount next month, you're going to have to list out all of the negative items that you have on your credit report along with their severity.  Based on that information, we'll be able to give you a pretty strong idea of what may happen with your scores going forward.

[Anonymous]

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wrote:

"... Also my main question is I had 3 student loans that had defaulted in the past, they are paid in full now and have been for some time.  On my reports it stated they are to delete off my credit in 3/2018, when his delete will this give me a nice credit jump??..."

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YES.  Three baddies removed in the same month should by all means result in a pretty nice jump.  As to how much of a jump, I'll leave that to the experts here but I had TWO baddies removed from my CR and the average of the three CRA's was somewhere around +65.  Wishing you the best!

[Anonymous]

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"... Also my main question is I had 3 student loans that had defaulted in the past, they are paid in full now and have been for some time.  On my reports it stated they are to delete off my credit in 3/2018, when his delete will this give me a nice credit jump??..."

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YES.  Three baddies removed in the same month should by all means result in a pretty nice jump.  As to how much of a jump, I'll leave that to the experts here but I had TWO baddies removed from my CR and the average of the three CRA's was somewhere around +65.  Wishing you the best!

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The number of baddies removed has no bearing on the score jump... that is, just because you saw a large score jump with 2 removed doesn't mean that she'd receive as many or more points for 3 removed.  What matters is how many remaining baddies are present after the removal.  If you saw a 65 point score increase from the removal of your two, that tells me that they were your last 2 major baddies and that you didn't have any other major ones present.  THAT is why your score went up significantly.

If the OP is removing her final 3 major baddies, her score would increase similarly.  However, if she has even 1 more major baddie remaining (4+ total) her score will not go up significantly.  In fact, it's possible that it would barely go up at all.

[Anonymous]

Yep. Those 2 baddies were my only 2 baddies. I knew someone smarter than I would chime in. :cheers:

[Anonymous]

I have no other negatives on any of the reports at all. The only thing I had on them was 3 student loans that had +120 days late but paid odd in 2004 (which is why I asked them to remove them from my reports, which they did). Other than that I have no lates, no bads nothing but on time payments

[Anonymous]

 have nothing more on my credit, no bads, no lates NOTHING.... Why I am upset is because I had a huge DROP in points when Transunion removed them NOT a increase. Very frustrating

[Kree]

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wrote:

 have nothing more on my credit, no bads, no lates NOTHING.... Why I am upset is because I had a huge DROP in points when Transunion removed them NOT a increase. Very frustrating

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Hi Cheiney,  Sorry if you were lead to believe that you would see a score increase. From the sounds of it, these tradelines stopped being 'baddies' years ago.  Negative information only lasts for 7 years.  Instead the student loans were giving you a major boost in your Age of Oldest Account (potentially) and Average Age of Accounts (definitely).

Now, these should have been deleted from your report around 2014-2017 so losing them now is a good thing. You are aware of your credit, and it is happening under your watch.  This could have occured right before you applied for a mortgage or a car loan.

Unfortunately when we only have a little bit of information its hard to give advice, or make predictions.  If you would like to provide more of your profile we can help you make a game plan for rebuilding. As well as give you pointers for things to keep your eye on. We wouldn't want you to be taken by suprise again.

[Anonymous]

What would you like to know? I am up for all the help I can get to get my score a great as I can. I am actually emailing my Credit Union right now back and forth, I am debathing taking a personal loan out 6.00% to pay off all credit card debt and not have the high interest that I have on the cards now.