So thanks to all you guys I have gotten most of the baddies cleared from my reports. Today I pulled my PG 3-in-1 and I saw that a repo had been taken off my EQ. I didn't dispute it (was waiting for CHOD) but nevertheless it was gone. So, I check my score (PG) and it went from a 610 to a 538 overnight!!?? So what can I do now?
This is common so don't worry. You lost age of that account and that is why the drop in score. Your EQ score will recover in a couple months.
When my EQ report was clean, I went from 660 to 610 overnight... it was SO depressing. Now, 3 months later, I am back up to 650. No worries, it will get better.
Thanks all for the words that was a little troubling for me. I thought "all that hard work down the tubes"
Fico scores can be very depressing. But on a good note my $1300 payment to my sears mastercard posted to my CR and I got a 14 point jump. I just made another $1,000 dollar payment new balance is $754 down from 2900 a month ago. I hope I get better jump when the balance updates to my CR.
Re: Re: Big hit Depends on the derog and your situation. If you had a 30 day late on an otherwise good acct which had signficant age, it is best to leave it alone (especially if you want to keep your score steady cause you are applying for a mortgage, etc). On ther other hand, a charge-off or repo or collection is bad no matter the age and should be targeted for removal. While removing these baddies might drop your score initially due to loss of age, the points will be regained relatively quickly (and your credit will look better regardless of the score).
Re: Re: Big hit Thanks kit, So in-line with this let me ask you this question. Since I didn't dispute this account and it has not yet hit the 7 yr mark, if the CRA decides to re-insert would that still be considered a violation if they don't notify me in the 5 bus. days? I printed a copy of the report with that tradeline removed just in case.
