Hi guys, Anyone out there how long it will take for Experian to update a credit score once derogs have been removed? I am getting a mortgage, so I need to fix this stuff ASAP. I have visited this board from time to time in the last year, and have done as Doc says; "Read, Read, Read" So, I kind of know how all this works. Just not very experienced. I use Ex's credit expert site and it only shows 30day lates on Discover and Household CC's from back in 2000. They are both open and have been in good standing since. I also have a 30 late on a GMAC auto loan from back in 1997, but paid in full a month after that. About half a year ago I did an online dispute through credit expert on the GMAC, but it came back verified. Now after reading a bunch of threads, I find that they will verify w/ out any proof? My strategy; I have just disputed all three online through credit expert. If they come back verified, should I demand validation first? Or send in Goodwill letters? If they are not verified, how long will it take for Ex to increase my credit score? Thanks,....Tyson P.S- just want to say thank god for computers and yoou guys who make it possible for guys like me to get redemption.
Generally my score changes immediately on an update. One kind of scores do you have? The lates are aging to where they probably aren't hurting that much.
Had a bit of a brain fart when I wrote this. While I stand by my statement the lates aren't affecting your scores much, I failed to mention that many report a "nice" score jump when the last of their derogs fall off. I'm also concerned about GMAC verifying the late. From my many conversations with them, I was under the impression they don't have records on that old of a loan. I would write a goodwillish dispute letter (don't admit the late "it was so long ago you don't recall") and see if they won't fix it for you.
My score on 'credit expert' showed 662. However, when my credit was pulled for a mortgage application. IT WAS ONLY 607!!! Also showed a late from Saks Fifth as being reported from Experian, but was not showing on credit expert. So I called to ask about it and after finally getting to Experian, they said they did not show that one. So why is my score so low? I have three 30day lates and a higher utilization on revolving credit available. I finally figured that credit expert simply is a FICO simulator. If the GMAC comes back verified again, I gues I'll send them a validation letter. Or does anyone have a better recommendation?
Why are you in such a hurry? Isn't 1997 almost 7 years ago? That item is due to fall off within 6 or 7 months anyway so why dispute it and wake the creditor up?
We found a house for a very good deal in the perfect neighborhood. So regardless of what kind of financing we get, we will still go for the house. But what do you mean by, 'waking the creditor up' It was paid in full a month or two after the late pay so I don't see any consequences.
Re: Re: How often does EX update? I just meant it's kind of inconsequential - a late pay from almost 7 years ago. That's all. Good luck with the house. =)
Whoah! You're spending all this time disputing late payments that are three years old and older? What are your scores now? Have you spoken to a mortgage lender yet? There is a strong chance that you qualify just fine today without doing all this work. Check to see if there is a problem first, then fix it.
