Scoring impact of getting a Charge-Off deleted

[Anonymous]

I sucessfully received a PFD from Discovercard.  They said they report electronically every Friday so I am not sure what the score impact will be.

I am hoping that some of the more experienced people on here might suggest what kind of bump I should receive for this.

It was a charge off showing a balance.  I paid a settled amount in exchange for full deletion, confirmed by a faxed letter.

Any hints on what kind of bump i might get?  I am not real experienced in how much this will impact my scores.  I appreciate any help offered.

[Junejer]

Hey kornut, what other baddies are on your report after this CO is gone? If there are other baddies, how old? If there are none, I would bet on up to 50-100 points.

[Anonymous]

There are 4 collections, but all have been "settled".  There is one charge off that was sold to a collection agency, but was settled with CA.  There is no balance on that charge off.  No balances on any baddies.  This was a charge off that was showing the full balance and was reporting every month.  They will be deleting this from all 3 CRA.

The other baddies are all about 4 years old.

I currently have 4 active cc's with 0 balance. A Target card with 0 balance and no missed payments in over 3 years.

I am currently at TU:677 EX: 705 EQ: 650  I am hoping this deletion will get me over 700 on the TU or maybe even over 720.

Thanks for the reply

[Junejer]

Paid or settled collections are no better than collections with a balance. In fact, because of the updated status, they could even do more damage.

IMO, because there are other major baddies on the reports, your point jump won't be as great as it would have been, had there not been any baddies. I hope more points for you, but I would guess 10-20 points.

[Anonymous]

Ok, Thanks ByrdMan.  I appreciate the info.

[Anonymous]

Please let us know what you get, in case someone else is in a similar position. Thanks!

[Anonymous]

Will do.

[hoopdreams]

I'm new and I found this section very interesting. I have 2 baddies that are coming off TU 2/09, 2 paid judgements and no other baddies. One installment and 2 revolving never late but are over the 50% credit limit. And one account with a history since 1981 never late. My TU score is 607.

How many points would you estimate?