Charge-Off Question in Relation to Credit Score
Date: Sat, 10/11/2008 - 05:24
After a lengthy process, I received notice this week that three accounts that were charged-off in the past have been deleted from all three of my credit reports. The items in question were charged off by Capital One about 4 years ago and since that time, I paid them in full through collection agencies. The disputes came when the paid in full was not documented on the credit reports. I submitted all required documentation to the original creditors, but they never updated it. Finally, a certified letter stating the facts, including my supporting documentation and request for accuracy worked, but instead of updating them they deleted them.
My question is...how, if at all, will this impact my credit score? Since November 2006, I have gone from a 520-ish score to a 640-ish. I have paid off all bad debt and keep current with my obligations, such as student loans, car payment, etc. Will these deletions raise my score more or with the deletion hurt it? If there is an impact, how long does it take for it to take effect?
My question is...how, if at all, will this impact my credit score? Since November 2006, I have gone from a 520-ish score to a 640-ish. I have paid off all bad debt and keep current with my obligations, such as student loans, car payment, etc. Will these deletions raise my score more or with the deletion hurt it? If there is an impact, how long does it take for it to take effect?
Deletion of derogatory tradelines should have an instant positiv
Deletion of derogatory tradelines should have an instant positive effect on your FICO scores. The only way to truly tell is to pull your true score @ MyFICO.com.
