Posted on: 18th Mar, 2011 06:30 pm
Long story short, the bank put on my credit report that my mortgage had been "charged off -written off".It was over this now famous "forced placed Insurance". It was an error on their part. The bank has now agreed to clear up this credit report mess they put on me. The guy at the bank said he was going to wipe out everything on the credit report relating to the loan, supposedly like it never existed. My question is: I know there is not an exact answer, but how much should my credit score improve? The bank also released a lien they had on the property ,how much does a lien affect credit scores? This lien and charge off were on my credit for some time ,does the length of time have any bearing on this? I would rather be doing other things with my time,but this crap with this bank has gone on for years and now I intend to get my pound of flesh just like the bank went after mine.Anyone have any ideas?
Hi rickgriffith,
It will be quite difficult for me to say as to how much your scores will improve if a negative item in removed from your credit report. You can expect an increase of 30-50 points in your credit score. Similarly, a lien may reduce your score by around 30-50 points.
Thanks
It will be quite difficult for me to say as to how much your scores will improve if a negative item in removed from your credit report. You can expect an increase of 30-50 points in your credit score. Similarly, a lien may reduce your score by around 30-50 points.
Thanks