Charge off finally gone--check out the huge score increase...

Question

Experian finally excluded a CC charge off that was originally supposed to drop off in March. They moved it to June for some reason, and today it finally dropped off. How did that affect my score? +1 point. Only one CO left, and that's a Bank of America CO that was sold in 2009. According to reports from a big settlement in a NY Federal Court, BOA is going to remove any reporting for accounts they charged off and sold since May 2007. That's supposed to happen by this August. If that happens, I'll only have a small paid collection left on Experian and TU. Still waiting on a couple stragglers to drop from EQ in Sept. that are already off the others. Was hoping for a bigger score bump, but I'll take the psychological boost and one less thing for any manual reviewer to see.

Answer 1

asbinjax wrote:
asbinjax wrote:
crrredit wrote:
Experian finally excluded a CC charge off that was originally supposed to drop off in March. They moved it to June for some reason, and today it finally dropped off. How did that affect my score? +1 point. Only one CO left, and that's a Bank of America CO that was sold in 2009. According to reports from a big settlement in a NY Federal Court, BOA is going to remove any reporting for accounts they charged off and sold since May 2007. That's supposed to happen by this August. If that happens, I'll only have a small paid collection left on Experian and TU. Still waiting on a couple stragglers to drop from EQ in Sept. that are already off the others. Was hoping for a bigger score bump, but I'll take the psychological boost and one less thing for any manual reviewer to see.Do you have any more info on the NY Federal Court ruing about accounts COd since 2007? I am searching the net but nothing on it yet. Thanks i found the info - apparently it is pretty huge with chase, b of a, synchrony, citigroup, and others, but it only applies to the way ppl that were in bk were treated. here is one article i found:http://www.nytimes.com/2015/05/08/business/dealbook/bank-of-america-and-jpmorgan-chase-agree-to-erase-debts-from-credit-reports-after-bankruptcies.html?_r=0 sounds like good news for those that were in bk with those companies hth  Read further down on that article: "Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone."  HOLY DROP OFF, BATMAN!  And speak of the devil! The BOA Charge off just came off my Experian report!