Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
mnc2597

4 Contributions
87 People Helped
As Negatives Age Off...?
I'm getting my credit in decent shape, but have 6 negative accounts that will all age off of my reports over the next year. What kind of a bump can I expect on my score as they drop off? Two will be gone next month, one the following month, 2 in January and the last one next June. Are they irrelevant at this point? Will my score rise as each one is removed? Anyone have an idea how much? Thanks!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
5 Contributions
3 People Helped

While bad debts falling off the report can help your FICO score, but only if you have other accounts that are paid on-time, have low utilization, and are varying types of credit.

Otherwise, you would likely need to start rebuilding credit with say a secured credit card.

Top Contributor
72 Contributions
292 People Helped

I had 4 negatives drop off over a 6 month period and my score improved by 60 points. However, I also had newly acquired cc debt that I was paying on at the same time (making on time payments). So it's hard to say which one attributed more to the increase. As financeslayer noted, it does help that you have other accounts that are paid on time at the same time bad debt is dropping off.  

Reply by
mnc2597

4 Contributions
87 People Helped

Thanks to both of you for the replies.  I have a pretty good mix of student loans paid on time for over 10 years, 3 credit cards always on time and usually paid off monthly and a car loan that's good.  Just an FYI...  I think it was a variety of factors, but I saw a 41 point jump this month after a collection fell off.  

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.