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Does your score drop or rise after deleting negative items?

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Ira
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Subject: Does your score drop or rise after deleting negative items?
 
Posted on Tue Jul 31, 2007 4:43 am  

In order to repair my credit, I have made considerable effort and have deleted 5 negative credit items. But my score has dropped by 25 points. How is this possible? Do you know how to delete negative items from credit report?
Laura

Laura

Joined: 21 Jun 2007
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Posts: 1327



36459 Magic Points

 
Posted on Tue Jul 31, 2007 5:19 am  

Hello Ira,

It is possible for the score to drop. First and foremost, history is getting deleted. Be it good or delete negative credit is a loss of account history. The score can drop in this case.

Your credit report contains various items good or bad. Some importance is given to the credit history while calculating your score. That might have reduced your scores.

While performing a credit repair it is natural to face ups and downs in the scores. While you delete negative credit items it will also be prudent to add new accounts which can boost your score. Always remember there are various factors that are considered when your score is calculated. I am giving you a breakup of what factors help in the calculation of credit scores.

* Payment History:35%
* Amounts Owed:30%
* Length of Credit History:15%
* New Credit:10%
* Types of Credit Used:10%
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Regards,
Laura.
anthony

anthony

Joined: 31 Jul 2006
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Posts: 516



13609 Magic Points

 
Posted on Tue Jul 31, 2007 6:04 am  

Ira,

There are various factors responsible for the increase and decrease of your credit score. Negative items are the ones that decrease your credit score badly. So you should aware about how to delete negative items from credit report. If you delete negative credit from your credit report, then your score will improve gradually with time. Most of the points have been mentioned by Laura. One thing that I would like to add is that maintaining your file is necessary. Do not stretch it so hard that you need to go for a repair. Keep it in mind that you make your payments on time and build a good history. Keep a track of your credit report which makes it easier for you to manage your account easily.

Using different types of credit is also important which adds to 10% of the credit score as mentioned by Laura but the main part is the history. Ty to keep revolving accounts so that you never completely pay off an account. Once an account is closed try to maintain a new one to continue your history unblemished.

Take Care
Anthony
Laura

Laura

Joined: 21 Jun 2007
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Posts: 1327



36459 Magic Points

 
Posted on Tue Jul 31, 2007 6:38 am  

It is good advice to keep a revolving credit rather than an installment credit.

An installment credit has fixed number of payments eg. home mortgage, equity loans, automobile loans etc..

Revolving credit is the opposite of the installment credit eg. credit cards, some home equity loans, line of credit etc.
_________________
Regards,
Laura.
Laura

Laura

Joined: 21 Jun 2007
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Posts: 1327



36459 Magic Points

 
Posted on Tue Jul 31, 2007 11:36 am  

I agree with my previous posters that delete negative credit items will improve credit score. But for that you will have to know how to delete negative items from credit report. To add to the previous post...its necessary to know that there are loop holes as far as revolving credit is concerned. It is plastic money so needs to be handled with care.

Never confuse debit cards as revolving credit because they are no way related your credit score.

Also beware of Home equity lines of credit. Helocs are mistakenly taken ac credit card debts and the huge amount of transaction through an apparently credit card account is detrimental to your score. So take precautions whenever you are dealing with money.
_________________
Regards,
Laura.
Chris1
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Subject: How to delete negative credit
 
Posted on Fri Aug 03, 2007 11:42 pm  

If you dispute an item and it is not deleted negative credit, then it will show as being updated this month ( or last or whatever). It may not have been reported monthly until you disputed it. That moved the last negative credit items up and that cost you some points. In my experience you will recover those points fairly quickly.
Ira
Guest






 
Posted on Sat Aug 04, 2007 3:33 am  

Thanks All,

Chris when I disputed the items it showed as deleted negative credit. I checked my credit file within two months of the dispute. Thanks for the reply. I hope I recover the points as early as possible, I will require a new card very soon.
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30065 Magic Points

Subject: Delete negative credit to improve score
 
Posted on Sat Aug 04, 2007 3:34 am  

Chris is right. That might have been the case. When your creditor/CA will delete negative credit items from your credit report, you will have to be make sure that your account status will be updated properly. This is because account status plays a great role to improve your credit score. If it doesn't updated properly, then your credit score may drop.
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Keep in touch
Carol
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: Delete negative credit
 
Posted on Fri Aug 17, 2007 12:19 am  

My advice??? ( Personal experience, anyway.)..keep paying on the loans,car payments, etc. on time to 'keep up' your credit score. Some deliquent accounts will 'drop off' at certain times...which will help your score, even more. Delete negative credit items if any from your credit report asap to increase your credit score.
ChristopherMArcher
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