I obtained a new credit report today from Equifax. Two chargeoffs have been deleted and one was deleted today (updated report in the mail). Problem: My credit score hasn't moved an inch. How long does it take to update the score? Immediately? A week? How long until you guys saw an increase in your FICO score? Thanks. lbowman who wishes she hadn't just wasted $12.95 :-(
I wish I could answer that. I had a negative removed, no inquiries or other activity and my damn score went DOWN 10 points. Also - my Experian report sucks (for lack of a better word). I havent disputed ANYTHING on it and it still contains numerous negative tradelines but yet Experian gives me the highest 'score' out of the three - well over 100 points above the other two.
Deletions are only one factor. How many other negatives and how old are they? Also, how old are your positive tradelines? All of that is interrelated. I truely believe that the best real cure for a credit report is the passage of time. The bad stuff gets older and less important and the positive trade lines get older and more important.
Passage of time will inevitably help but removing negatives off the report is by far the best method of increasing scores.
How many other negatives do you have, how many positives, and how old are the remaining negatives & positives?
Here's my new profile: Credit Management: Collection Acct $223; Status: CHECKED. (Not sure what this means but it's not listed as a negative) Afni, Inc: 120+ days past due; $27 (I'm currently in the process of having this removed. On the date established I was 17) Capital One: CHARGED OFF: (This account will be updated this month to show R1) Capital One: CHARGED OFF: (This account will also be updated this month to show R1) Cross Country Bank: CHARGED OFF Fingerhut: R1 First National Bank: R1 First Premier: R1 FCNB: CHARGED OFF; currently disputing Macy's: R1 MBNA: R1 Montgomery Ward: R1 That's my Equifax profile. Even with 3 chargeoffs removed, my score still shows as 476. lbowman
Also, ALL accounts were established in 2000. All charge offs occured in 2001. Everything on my report is recent (I'm 21). lbowman
I have found that whne a person has several charge-offs, the score doesn't move much when the first few are removed. I had 4 COs removed from Equifax a few months back and my score went up by 2. The COs totalled about $10K and were less than 3 years old. However, I also have about 5 other student loans showing CO (incorrectly, I might add). I think once these other COs go away, you'll see a large jump in your score.
Thanks for the help. FWIW, not including Capital One, the remaining balance on my other chargeoffs is $2269.00.
hey lb - would you mind sharing what method you used to get the cap 1 charge-offs to R1. I am trying to do the same thing. Thanks
hey lb - would you mind sharing what method you used to get the cap 1 charge-offs to R1. I am trying to do the same thing. Thanks *********************************** Nothing special really. I PFB'd Capital One in October and got a callback from Mr. Cooke. I agreed to pay the full balance on both accounts (roughly $1500 total) in exchange for R1. At first, he wouldn't budge but he finally agreed and sent me a letter showing our agreement. He gave me until 3/31/02 to pay and my final payment cleared my bank last week, so I'm just waiting for him to update (he told me he does updates at the beginning of April). ps. Last week, I called him and tried to negotiate the same deal with my husband's accounts. He wouldn't go for it. The best he would do was R4. Since we plan to try car financing in a few months, I accepted. I guess getting my deal was just a lucky break. lb
