Unexpected score bump

[iamamydee]

All of our charge offs are about to age off in 2021. Some have balances. Some I settled and paid.  We have almost no credit over the last 6 years except for some new activity we recently acquired and one car loan that's about to be paid off. 

We have a home loan that was foreclosed on after trying to rewrite it failed with Wells Fargo.  The lates on it started approx 3 years ago and the age off date seems very soon. But the actual date of foreclosure was November 2019. We just passed the 1 year mark. 

We noticed this month that our scores jumped about 40 to 70 points with no explanation.  Is that due to aging,  especially on the foreclosure? We are getting a refresh on the scores on the 14th so we are waiting for our hard updates,  but we keep getting these soft updates from my fico that are confusing us as to why it's happening. 

[SouthJamaica]

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@iamamydee wrote:

All of our charge offs are about to age off in 2021. Some have balances. Some I settled and paid.  We have almost no credit over the last 6 years except for some new activity we recently acquired and one car loan that's about to be paid off. 

We have a home loan that was foreclosed on after trying to rewrite it failed with Wells Fargo.  The lates on it started approx 3 years ago and the age off date seems very soon. But the actual date of foreclosure was November 2019. We just passed the 1 year mark. 

We noticed this month that our scores jumped about 40 to 70 points with no explanation.  Is that due to aging,  especially on the foreclosure? We are getting a refresh on the scores on the 14th so we are waiting for our hard updates,  but we keep getting these soft updates from my fico that are confusing us as to why it's happening. 

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I don't feel that you've given us enough information with which to even hazard a guess.

[Anonymous]

If you have late payments that are around 3 years in age, they aren't due to age off soon, as lates typically hang out for roughly 7 years.

Which scores are you referencing in particular that went up 40 or 70 points? 

You'd have to look at your before/after credit reports to look for differences that could point to the score shifts referenced.

[Anonymous]

Your car loan probably went under 10% and if it’s your only loan that would’ve given you a big boost, the foreclosure hitting one year could’ve also contributed.