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2 Big baddys falling of this month - Help with info


SteveAR
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Ok CIC ,

Its been a while and I've been trying to help others with getting their own Credit fixed. Now i know most of you here have more experience than me in all this so I'm asking for some info

here my question: I checked Experian and i have 2 Major things coming off this month. This is what it says

This account is scheduled to continue on record until Dec 2008.

One for $1,445 and the other for $1,481

So in Jan when i check my

truecredit these will be erased and my Credit score will go up or down ? Let me know what to expect . Thanks guys! :)

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Without knowing what is in your credit report, I can't answer your question. I doubt I could answer it even if I did know, but I did want to give you a heads up to my recent experience with something very similar with EX.

I have a Cap One account that was showing "This account is scheduled to continue on record until Nov 2008". I just left it alone knowing it would be gone soon. It's not reported by any other CRA.

November 30th, still showed on record until Nov 2008. Pulled my report on December 1st anxious to see it was gone. To my surprise it now says "This account is scheduled to continue on record until Dec 2008". I'm sure my immediate letter to EX correctly reflected how fired up I was.

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Without knowing what is in your credit report, I can't answer your question. I doubt I could answer it even if I did know, but I did want to give you a heads up to my recent experience with something very similar with EX.

I have a Cap One account that was showing "This account is scheduled to continue on record until Nov 2008". I just left it alone knowing it would be gone soon. It's not reported by any other CRA.

November 30th, still showed on record until Nov 2008. Pulled my report on December 1st anxious to see it was gone. To my surprise it now says "This account is scheduled to continue on record until Dec 2008". I'm sure my immediate letter to EX correctly reflected how fired up I was.

wow i hope that doesn't happen to me. Ill keep you posted though for sure.

anyone else?

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I had a tax lien that fell off on or about Dec 1st. There was no indication, except for the date of the original appearance, Dec. 1998, that would suggest that this item would fall off this year. So, I had written several letters to Exp. and had established that 10 years was the max this could remain, according to Calif. statutes. So, I was hoping that the lien would fall off. When it did, to my surprise, my score increased by 6 to 9 pts. However, I had also paid down a credit card to zero so my total increase was 15 points from Nov to Dec- Exp was 617 went to 632. It seems that the items that hurt the scores most, those that drop the score dramatically when first inserted, when removed or reversed do not return the score to its former level. Also, I have a bogus collection that has history and I anticipate, because it has some (faked) good payment history for several years, that when it is removed next month my score may drop. I will let you know and I hope this helps.

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I had a tax lien that fell off on or about Dec 1st. There was no indication, except for the date of the original appearance, Dec. 1998, that would suggest that this item would fall off this year. So, I had written several letters to Exp. and had established that 10 years was the max this could remain, according to Calif. statutes. So, I was hoping that the lien would fall off. When it did, to my surprise, my score increased by 6 to 9 pts. However, I had also paid down a credit card to zero so my total increase was 15 points from Nov to Dec- Exp was 617 went to 632. It seems that the items that hurt the scores most, those that drop the score dramatically when first inserted, when removed or reversed do not return the score to its former level. Also, I have a bogus collection that has history and I anticipate, because it has some (faked) good payment history for several years, that when it is removed next month my score may drop. I will let you know and I hope this helps.

ok that helps a lot. Ill be posting and letting everyone know what happened. Im sure there will be more with the same question.

Its really tough to be 100% accurate about such things (after all, the algorithm is secret) but, in general, old baddies don't hurt enough to cause a major jump in either FAKO's or FICO's. Maybe 10-20 points at most.

yea i know its hard. but you gave me what i was looking for. thanks for the rough numbers and i hope other people post as well with more info.

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Well guess what! today i checked my Fako (truecredit.com ) and my experian was at 505.

So i clicked the update option and one of these baddies fell off already. My score went up to 555 in that one thing coming off. i plan to check my real fico in jan so i hope the other one falls off as well.

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Ok this might be fun! I'll guestamate 2 neg gone real fico, 26 pt gain.
Im guestimating only about 15 fico. I have a feeling there will be quite a loss in "age of TL's" when both fall off completely

thanks for the guess guys and ill def post that up in Jan (or as soon as the other falls off) I have other accounts that have long time as well but not to good. the only thing that has me in good credit is my one car loan that is paid off and all payments on time. 20k loan.

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