How will deleting IIB accounts affect my score?

[brokr741]

My ch7 was discharged in Oct 2010 and all of my accounts are reporting correctly for the most part but I was wondering how my score will be affected if I start getting IIB accounts deleted? Is the old pay history giving any weight to my score now since the accounts are IIB? How about the age of the accounts? Will that lower my score if it was opened 10yrs ago? Thanks

[df04527]

It will raise your scores to get them deleted. Any negative reporting account being deleted is an increase of some sort -- older the account the less score jump -- newer the account -- bigger score bump. Any positive that is listed on a negative reporting account is not helping at all because the negative trumps any positive, if you will.

[brokr741]

That makes sense, Thanks

[discombob1]

I am curious... if the accounts are accurate, how do you expect to get them removed?

[brokr741]

When I said reporting correctly I meant IIB and 0 balances. Some of the accounts DOFD dates are almost 7yrs so they can be removed as obsolete accounts. The others have other things like conflicting information reported to 3 bureaus, status or dates. If all else fails I'm going to try the arbitration method to get them to delete.

[HHM]

Keep in mind, this is a double edged sword, while disputes are pending and if you really escalate it, that essentially freezes your credit. The BK is still in the public records section of your credit report, so removing a few trade lines here and there that are reporting IIB with Zero balance is incremental at best. After about 3 years, those Trade lines will have minimal impact on your score.

[Amy26]

Having them removed can also cause negative affects to your score. If the trade line is helping your average age of accounts metric then removing the trade line will negatively impact your AAoA. This metric can be quite a big impact to your score... IE: On April 1st my average age of accounts metric went from 5 years 5 months to 5 years 6 months... but guess what? My score dropped 12 points because I was now in a scoring bucket with better people and it made me look worse. Personally, I hate this metric with a passion.

[IBroke]

I just launched a CMRRR-attack on my IIB-accounts. The majority reported wrong information such as DOFDs, balances and other stuff. In total, I mailed out 26(!!) CMRRR-letters, demanding removal of those tradelines because my previous online-dispute was ignored and the errors verified as "correct". I also requested some old an positive accounts to be reported on Equifax again. I don't know why but the majority of positive TLs simply disappeard from my Equifax-report.

All those IIB-accounts have a medium-age and are not older than my AAoA, so getting them off the report is a plus. It might not make a huge difference score-wise, but it is relevant in a manual credit-review. I'm planning on getting a new car around Christmas and I bet that it makes a difference if my 2 previous IIB-repos are reported or not.