Mostly Fixed Credit Score

Mostly Fixed Credit ScoreMostly Fixed Credit Score
fausaMixail asked 5 years ago

I wont bore you with the reasons as to why everything happened but heres the jist, had an account in collections valued at ~$ 1200. Recently disputed the account, and won. All information reported from the collection agency has been removed from my credit score and as a result…my score jumped 100 points, sweet! The original lender hadn’t reported on the original charged off account since 2012, I was given the advice to call them and ask them to update it. Called, they couldn’t find any information on me after searching with my SSN, called one of the credit bureaus and disputed the original charged off account, the original account information from the lender got lost in a data transfer between banks, so i disputed the account not being mine. (I understand thats not the right answer and I did everything in my power to own up to the original loan and made every effort to pay someone for it but no one would accept my money lol) Got the results of the dispute back this morning, “Outcome: Updated” not “Deleted” like I was hoping for, but no problem, my score jumped ~75 points, so I’m sitting at 723 now. The account is still listed on my report but its listed as “Account Status: Closed” and “Payment Status: Late” and “Payment Status Details: Charged Off” My question is this…going to try and apply for a home loan next month, I expect that score to go up to ~750 once my bank reports my updated credit card balance to 0. (I came up with these numbers using my banks credit score estimator, I do understand its not accurate, but regardless the score will go up some when my rate to debt ratio is below 50%, and in my case 0% when its finally updated. Having what I feel to be a great credit score, but still having that “Charged Off” account what are my options when it comes to applying for a homeloan? The account is showing as $ 0 balance, the charged off account is 3.5 years old now, and there are no collections reported at all on my credit report after I won the dispute, but didn’t totally win the original lender dispute. Any thoughts or questions to my situation are welcome!

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