I believe hat the credit companies do an update (re-calculate the scores) on the reports about every 30 days or so. They don't all update on the same day. I had a charge off fall off my report recently because it was over the 7 year period. My credit score went up 27 points. I am trying now to get 3 other charge off accounts removed from my credit so that I can buy a home. Can you tell me how you got the 3 accounts removed from your husbands account? I have been sending pay-for-delete letters but so far, it hasn't worked. Any advice you or anyone else could offer would be appreciated.
I disputed the charge offs with the credit bureaus because they were credit cards in my name with my husband as an additional signer. They were not technically his, he never used them, and they did not have his signature on ANYTHING showing that he requested to be added to the accounts. The credit card companies had to take the negatives off of his report.
Regarding the charge offs, two were paid off to the companies that held them. The other is in collection and has a balance of $3k that is currently being paid off, slowly, with the collection company.
It depends on when the charge-offs were and if there was a balance reported as well as the limit. Charge-offs report as a revolving balance most of the time, so if yours did, and there was a balance over the card's limit (like 9 times out of 10 it is on a charge-off) then you will get some score improvement just from having the utilization decreased. If the charge-offs were within the past 24 months, then the removal of the negative information from the reports should also result in a score increase. However, one factor in your score is the AAoA (Average Age of Accounts) so if there is very minimal credit history and the 3 charge-offs had a lot of "months reported", then the AAoA will be reduced and that hurts scores. As soon as the charge-offs are removed from each of the credit bureaus then the corresponding score will change - as in that same day. You can subscribe to a credit monitoring service like TrueCredit.com to get alerts when it happens.
From what you have said, "only remaining late payment is from 30 months ago", I suspect you will get a score increase, but depending on the variables above will determine how much of a score increase will happen.