How Credit Repair Can Backfire on You: A Surprising Example



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Credit repair is supposed to increase credit scores, not decrease them. But sometimes, credit repair can have the opposite result. In this video, see an example of when successfully getting something deleted from your credit report can actually cause your credit score to go down.

TIMESTAMPS
0:00 Intro
1:03 Credit repair definition
1:24 Reasons why you may need credit repair
1:40 Derogatory accounts or delinquencies on your credit report
2:18 When successfully information can lead to lower credit scores
2:28 Deleting charge-offs
3:04 A surprising change in your credit score
3:42 Why your credit score went down from removing old accounts
4:24 The value of the age of an account vs. derogatory info
4:45 Considering the net effect of getting an account deleted from your credit report

ABOUT CREDIT COUNTDOWN
Credit expert John Ulzheimer shows you how credit works. Having worked in the credit industry for nearly three decades for companies such as FICO, Equifax, and Credit.com, John Ulzheimer is one of our nation’s most sought-after credit experts and the leading authority on credit-related topics.

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3 Responses

  1. Sammy Dodd says:

    You could offset that with a a really good AU account or a credit builder account that reports retroactive payment history such as rent reporting.

  2. PLATINUM CREDIT GROUP, LLC says:

    Thanks John
    I’d like to consult with you, anyway possible to make that happen?

  3. Cadillac Deville says:

    Thanks as always

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