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goturtlego

When baddies fall off... (your experience)

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When baddies fall off the CR is there much of a difference in scores?

 

My Dh & I are recovering from a 2009 nightmare (Dh was laid off for 6 months) and since, we've been cash only and laying low. We are now past SOL (Florida) and

we are SO close to the baddies falling off we can taste it. Spring of 2016 can't come soon enough!

 

I never pulled my credit since I expected the worst and man alive was I right...mid 500's where we're sitting at. Wasnt surprised but man did it hurt. I had to get a new

vehicle as I was in a car accident Jan 2015 and I got a 10% IR with a hefty downpayment.

 

So my question...when the baddies fall off will it make that much of a difference? We have ZERO cc's but have a Mortgage and my vehicle (the vehicle in the accident was paid off).

I'm thinking of a secured card once my baddies fall off as I highly doubt I'd get one even in our state now (score wise).

 

What's your experience?

Edited by goturtlego

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Depends on what your bad items are. Old lates or inactive COs (those that don't report monthly) won't have as much impact as recent or recently updated items.

 

I have an unpaid CO with a DOFD of 8/2009, set to fall off in 2016. Normally that old it wouldn't be too huge a problem but Cap1 reports it each and every month so it bites into my score like a fresh gaping wound. It was removed early from TU earlier this month and my score went from 676 to 794. EQ and EX still show the tradeline and are currently reporting 676 and 683 respectively.

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Depends on what your bad items are. Old lates or inactive COs (those that don't report monthly) won't have as much impact as recent or recently updated items.

 

I have an unpaid CO with a DOFD of 8/2009, set to fall off in 2016. Normally that old it wouldn't be too huge a problem but Cap1 reports it each and every month so it bites into my score like a fresh gaping wound. It was removed early from TU earlier this month and my score went from 676 to 794. EQ and EX still show the tradeline and are currently reporting 676 and 683 respectively.

 

Wow...I have some baddies that will fall off in the next few months. I hope I get a boost like that! :good:

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It is going to totally depend on the derogatives, the age of the deragotives etc.

 

I had a 6 3/4 year old 120 day late reporting along with a 5 year old unpaid tax lien. The 120 late recently was erased. I received a 1 point boost on EX, which could just as easily have come from an account aging or something else.

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Depends on what your bad items are. Old lates or inactive COs (those that don't report monthly) won't have as much impact as recent or recently updated items.

 

I have an unpaid CO with a DOFD of 8/2009, set to fall off in 2016. Normally that old it wouldn't be too huge a problem but Cap1 reports it each and every month so it bites into my score like a fresh gaping wound. It was removed early from TU earlier this month and my score went from 676 to 794. EQ and EX still show the tradeline and are currently reporting 676 and 683 respectively.

 

Wow...I have some baddies that will fall off in the next few months. I hope I get a boost like that! :good:

 

 

Other than this 1 TL my reports are actually pretty fantastic so my results are almost certainly not going to be normal :( No lates, 1-2 inqs each, AAOA is currently 8.2 or 8.7 (depending on CRA, 1 TL only reports to 2), 9 year old mortgage, and oldest reporting TL is 18+ and just closed (so it'll be 28+ by the time it falls off).

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When baddies fall off the CR is there much of a difference in scores?

 

I never pulled my credit since I expected the worst and man alive was I right...mid 500's where we're sitting at.

Fico® or Fako?

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Depends on what your bad items are. Old lates or inactive COs (those that don't report monthly) won't have as much impact as recent or recently updated items.

 

I have an unpaid CO with a DOFD of 8/2009, set to fall off in 2016. Normally that old it wouldn't be too huge a problem but Cap1 reports it each and every month so it bites into my score like a fresh gaping wound. It was removed early from TU earlier this month and my score went from 676 to 794. EQ and EX still show the tradeline and are currently reporting 676 and 683 respectively.

 

Wow...I have some baddies that will fall off in the next few months. I hope I get a boost like that! :good:

 

 

Other than this 1 TL my reports are actually pretty fantastic so my results are almost certainly not going to be normal :( No lates, 1-2 inqs each, AAOA is currently 8.2 or 8.7 (depending on CRA, 1 TL only reports to 2), 9 year old mortgage, and oldest reporting TL is 18+ and just closed (so it'll be 28+ by the time it falls off).

 

 

My current scores are just a bit lower than yours, and when the baddies fall off, I will have no lates, 2 or 3 INQs on each report, AAOA of 10 years, and oldest reporting TL of 19+ years, so I'm hoping to be firmly in the 700s soon. :good:

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My current scores are just a bit lower than yours, and when the baddies fall off, I will have no lates, 2 or 3 INQs on each report, AAOA of 10 years, and oldest reporting TL of 19+ years, so I'm hoping to be firmly in the 700s soon. :good:

Oh yeah, you should be good! FYI, you may have luck disputing as obsolete earlier than normal if you want to give it a try. Mine was supposed to hit 7 yrs 8/2016 and TU showed a fall off date of 2/1016, but they deleted it 7/2015. I gave it a try after several other reports the past month of exceptionally early TU deletes in the obsolete delete thread.

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We have quite a few CO's all from the same DOF so due to fall off spring of 2016. Came with that were lates of our mortgage and vehicles..it was crazy. My vehicle at that time was repossessed but not my dh's. So that's another ding.

 

Thank goodness that nightmare is over but still living through it with our scores.

I haven't done any true repairs yet to our CR's due to SOL but now we're good so I'm ready to start. 👍

Edited by goturtlego

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I had scores in the mid 500's when I started getting secured cards. SDFCU does not pull your scores. Is your CHEX ok (bad checking accounts, od,not paid?_.It helped a LOT. there are a few others that don't pull scores but SDFCU does NOT graduate after a year so you just cash out. If you have an ok bank account with Bank of America you can probably get a good secured card there. There is a whole thread on this and you should look at it. Good luck, I will be clean soon...

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Secured card may not be the way to go. If you have clean files after spring, you should try a few prequal links. I am sure you will have a shot at cap1 QS or maybe discover or chase freedom. Pull your scores once they age off (don't forget obsolete disputes) and see where you stand.

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So my question...when the baddies fall off will it make that much of a difference? We have ZERO cc's but have a Mortgage and my vehicle (the vehicle in the accident was paid off).

I'm thinking of a secured card once my baddies fall off as I highly doubt I'd get one even in our state now (score wise).

 

 

Don't wait to start building positive revolving credit. Get three quality rebuilder cards, pronto. Don't waste almost a year to get started.

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That's the thing...with a score of 520's I'm doubting I'll be approved for anything so this is why I'm not wanting to waste

inq. on my reports so this is why I'm thinking secured cards might be the only way to get back in. It's been a longggg (almost) 7 years. -_-

 

I'm going to re-read through the secured CC thread tonight and see what's suggested.

 

CHEX is fine. I have a clean history with past and present banks. I currently bank with Suntrust and belong to a CU.

Edited by goturtlego

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I had a CO that was scheduled to fall off next year fall off for some reason 2 weeks ago. My score didn't move a single point.

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i also was reading people getting stuff removed from TU earlier than 6 months i have one set to drop in 2-2016 they didnt delete early for me but they will get it right back AUG 1.

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That's the thing...with a score of 520's I'm doubting I'll be approved for anything so this is why I'm not wanting to waste

inq. on my reports so this is why I'm thinking secured cards might be the only way to get back in. It's been a longggg (almost) 7 years. -_-

 

I'm going to re-read through the secured CC thread tonight and see what's suggested.

 

CHEX is fine. I have a clean history with past and present banks. I currently bank with Suntrust and belong to a CU.

There are some CU's that don't pull credit for secured cards. You will need a clean Chex which you say you have. You won't get good cards that graduate with a 520, but it will get you on the right path.

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I went through the same thing back in 2008. I accidentally poisoned myself and completely flipped out and quit my job because I was so embarassed. (I likely would have been let go anyway.)

 

I defaulted on everything, so I decided to just move back in with my parents (in my late 30's) and lay low for a few years. "Run Silent, Run Deep" is what I called that strategy.

 

I didn't leave a forwarding address or anything. It took a while for the skip tracers to find me, and that was after I finally got a new drivers license and plates for my truck. I never DV'd their letters or anything. I never answered them at all and my parents knew to say that I didn't live there whenever they would call. The debt collectors would sometimes act like they were old friends or that they were looking for my 'next of kin' to try to worry my relatives. I got a few letters from litigious law firms in the area, but they also pulled my reports, which were a train wreck. I left them like that on purpose for just that reason. They never sued.

 

After lurking and reading a lot here, I got all three of my credit reports back in February and just disputed everything online to see what would fall off and I was suprised at how much did.

 

Transunion deleted everything bad. All of it. So I figured out who pulls TU and got thee Synchrony cards (Chevron, Amazon, Midas) and a Cap1 toy card with a piddly $300 limit because they also pulled EX, which still has Midland on it, and a Firestone card. The rest of the derogs on the other two should fall off in October.

 

I consolidated my Student Loans with Great lakes and they are reporting one single tradeline that is positive. All the old defaulted tradelines from the previous student loan lender fell off all three when I dusputed them. That was a huge break.

 

So my point is that a lot of us go through this sometimes. It's best not to feel bad about it and jjst try to move on and rebuild.

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i spoke to soon TU deleted the baddie that was set to drop off in 2-2016 took them a couple of weeks but they deleted 7 months early. so it seems u can get stuff deleted earlier than the previous six month window. on TU

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So my question...when the baddies fall off will it make that much of a difference? We have ZERO cc's but have a Mortgage and my vehicle (the vehicle in the accident was paid off).

I'm thinking of a secured card once my baddies fall off as I highly doubt I'd get one even in our state now (score wise).

 

Don't wait to start building positive revolving credit. Get three quality rebuilder cards, pronto. Don't waste almost a year to get started.

People answered your questions about the scores, but ^ is the best advice moving forward

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I had two paid judgments fall off within about six months of each other. Scores didn't change a bit. I was totally disappointed.

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So my question...when the baddies fall off will it make that much of a difference? We have ZERO cc's but have a Mortgage and my vehicle (the vehicle in the accident was paid off).

I'm thinking of a secured card once my baddies fall off as I highly doubt I'd get one even in our state now (score wise).

 

 

Don't wait to start building positive revolving credit. Get three quality rebuilder cards, pronto. Don't waste almost a year to get started.

 

 

+1

I'm same boat - financial meltdown in March '09, after which I stopped using credit altogether. I came to CB a year ago to start my repair, and learned that I should have started rebuilding the day after everything went to sh*t.

 

With all your baddies set to fall off in another 6 or so months (see the thread on early deletes - TU 6mos early, EX 3 mos early), you might opt to just wait them out, rather than getting into full-blown repair mode. But you should immediately open 3 Visa/MC accounts, so that you can start building a history of payment. Even with a sparkly clean CR, if you don't have a recent history of on-time payments, your scores will suffer and "real" cars will be hesitant to approve you.

 

If you can afford to tie up the cash for a year, consider at least one secured CC with a sizable limit. This will help you qualify for "real" cards with "real" limits in the near future.

 

A year ago, I was in the exact same place you are, with four 6-year old CO's and FICO's in the 570's. I started with a $2k secured card with Navy Federal Credit Union (I didn't know about the benefit of 3 cards then), and after 3 months, I qualified for an unsecured $5k from NFCU. In the following 6 months, I strategically added accounts, and by April my scores were 670-680. After 1 year of rebuilding, my scores are in the 680's, and I've got 10 TL's and $105k in available credit. When my baddies all drop off next spring, and 12-18 months of positive history reporting, I expect my scores to skyrocket.

Edited by JeffeVerde

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I'm sorry if this isn't the right place- I haven't been able to find specifically what I'm looking for but this looks pretty close. I wasn't really in the market just yet, (was still working on improving my credit) but happened to find a foreclosure I was interested in several weeks ago, so I'm trying to get my middle 'mortgage' FICO up over the 640 'automated approval' hump, in this case it's TU. I have one old medical collection supposed to be removed this month from my TU report (as per that report)- so I called TU to see about having it removed asap and the guy wouldn't do it- he just said it would be removed sometime this month... I don't really want to file a "dispute" or anything (he asked me if I did) because you can't process a mortgage with an active dispute. Should I just keep calling? Is there some specific language I should use to ask them to remove it? Or does TU have a 'usual date' that they remove things? I don't know how much it would affect anything, but if there's a chance it will help then I'd like to try to get it off before my scores refresh...

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I'm sorry if this isn't the right place- I haven't been able to find specifically what I'm looking for but this looks pretty close. I wasn't really in the market just yet, (was still working on improving my credit) but happened to find a foreclosure I was interested in several weeks ago, so I'm trying to get my middle 'mortgage' FICO up over the 640 'automated approval' hump, in this case it's TU. I have one old medical collection supposed to be removed this month from my TU report (as per that report)- so I called TU to see about having it removed asap and the guy wouldn't do it- he just said it would be removed sometime this month... I don't really want to file a "dispute" or anything (he asked me if I did) because you can't process a mortgage with an active dispute. Should I just keep calling? Is there some specific language I should use to ask them to remove it? Or does TU have a 'usual date' that they remove things? I don't know how much it would affect anything, but if there's a chance it will help then I'd like to try to get it off before my scores refresh...

Answered for you in obsolete delete thread but pasting here in case you miss it.

 

If you are sure the DOFD is such that it is due to fall off this month... dispute TU online today and it will be gone in hours (yes hours)

For yourself and future readers "dispute" is the process by which anybody on the phone at the CRA's has to go through to help you with your problem. They can't just wave it away with magic, it has to be under a process, in this case, dispute.

Much like removing an address, there is no big red 'remove address' button for them to push....its 'dispute' then reason codes under it.

 

Times up on DOFD, no red button again, dispute, reason code, obsolete.

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