RMA updated an account that is 6 yrs 11 mo old from collection account to charge-off. my fico score dropped 33 points. also, about 80 soft inquiries disappeared from my credit report last night as well. does that sound right? a 33 point drop just for a change on a collection account? I also finally got a 5000+ dollar charge off removed last night as well. my credit history is still the same age btw. Their are older accounts that still remain.
since the date reported went from like 01/1998 to 10/2002 , would that account for such a score decrease? The DOLA remains the same. I hate RMA.
It's only a guess, but I would say the change in the date reported is exactly what casued the score drop. Since your DOLA stayed the same (as it certainly should have), at least that is some help to you if your report is manually reviewed by a potential creditor. But for scoring purposed it seems likely that the scoring model is reading this as a fresh new chargeoff. (The other account dropping off probably made the drop less than it would have otherwise been.) DemPooches
You are most likely correct on this. Why even bother updating or changing an acct that is due to fall off in 1 month. Probably just to get a last shot in. Idiots. I would dispute it right now as obsolete. With 1 month to go they may just remove it. When I was cleaning up, any acct that came within 6 months of the purge date, I would dispute as obsolete. In most cases it worked.
man they suck. i was anxious to check my score this morning because of the stuff that came off yesterday afternoon. 1 $5000+ chargeoff removed 1 hard inquiry removed from last month 1 RMA account updated to show brand spanking new = 33 point drop Im most likely not going to dispute, because the 30 day dispute period would fall into november (roughly 11/6/2002 if I disputed monday). If memory serves, things that have a DOLA of 12/95 will fall off 11/1/2002. this seems to be the pattern on my previous old tradelines, falling off the month before I expected. Of course if someone doesnt subscribe to this, please let me know and I will dispute away. Since I have to go through CSC, I get no point increase on EQ when I dispute a derog TL.
