topic Re: Can a credit score get really high with... in Rebuilding Your Credit

Can a credit score get really high with...

dciples — Thu, 24 Jan 2013 15:47:39 GMT

My credit scores have been increasing each month. I have some old collections on my reports and am wondering if anyone knows or experienced themselves reaching a high score over time, even with collections on their reports?

I'm hoping to reach a 660+ with collections on my report.

Note: I understand everyone's situation is different, just wondering if it's possible?

Re: Can a credit score get really high with...

mnosal9 — Thu, 24 Jan 2013 15:54:21 GMT

Yes it is possible, As the collection ages the scores will go up then when it falls off there wont be that much of a difference in your scores all depending on the age of the collection. Try disputing it if its paid.

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 16:10:47 GMT

Even if they are paid that is not a basis for a dispute.

Re: Can a credit score get really high with...

dciples — Thu, 24 Jan 2013 16:11:54 GMT

So far, they are not paid at all.

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 16:14:12 GMT

Are they your debts? How old are they?

Re: Can a credit score get really high with...

dciples — Thu, 24 Jan 2013 16:21:07 GMT

Yes, they are mine. They range from less than a year to over 6 years. I do understand the whole falling off after 7 yrs.

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 16:29:20 GMT

It really depends on what you want to accomplish.

The newer the collection the bigger impact on your score. If you have the funds to pay, you can start with sending DV letters. If they validate, send a PFD.

What is your states SOL on debt?

Re: Can a credit score get really high with...

Mondavi — Thu, 24 Jan 2013 16:30:09 GMT

Well the negatives that are less than a year are the ones really hurting your scores. I have 3 CO's still on my report two are over six years old and one is over five years old with a balance still. My util is at 3%. I still have two FICO scores just over 700.

The collections that are over six years old you could always dispute, however if they are unpaid you may wake a sleeping dog. Could you give us an idea on what collections you have? Some of these collections agenices will do Pay for Delete letters.

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 16:49:16 GMT

Mondavi wrote:
Well the negatives that are less than a year are the ones really hurting your scores. I have 3 CO's still on my report two are over six years old and one is over five years old with a balance still. My util is at 3%. I still have two FICO scores just over 700.

The collections that are over six years old you could always dispute, however if they are unpaid you may wake a sleeping dog. Could you give us an idea on what collections you have? Some of these collections agenices will do Pay for Delete letters.

You cannot dispute accurate information. Just because they are over 6 years old does not make them disputable.

Re: Can a credit score get really high with...

dciples — Thu, 24 Jan 2013 16:58:58 GMT

Like 3 Medical collections (Express Recovery, IC Sysyems INC and Metro Area Collections) and 1 old Verizon bill that went to Pinnacle Financial (Oxford Law was hired from them), for $520. Pinnacle said flat out they won't do a PFD. I've sent PFD to the med collections. Heard from 2, still waiting on one.

Re: Can a credit score get really high with...

Mondavi — Thu, 24 Jan 2013 17:04:29 GMT

He never said it was all accurate information. Maybe I could have been more specific. Look over your reports and see if there is inaccurate information.

That still does not change the fact that they are unpaid and even if you found information not to be correct and disputed the old accounts, there would be a good chance they may just update their information.

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 17:10:54 GMT

No, he did not. He did say they were his accounts.

What does them not being paid have to do with anything? Other than not hurting the score so much any more.

Re: Can a credit score get really high with...

Mondavi — Thu, 24 Jan 2013 17:20:56 GMT

If they were paid collections and there was information found that was incorrect and then disputed, there would be a good chance that the CA would not take the time to verify the information. Especially on debt over six years old.

Example I had two small collections that were paid five years ago. Well the DoFD did not match on any of my reports. So i disputed. Both were removed. Was I lucky? Maybe.

Re: Can a credit score get really high with...

westo12 — Thu, 24 Jan 2013 18:18:18 GMT

I am sure I will hear it for this, but I have no prob disputing any and everything. They put collections on your credit report to get your attention and get it paid. I think it's only fair that when they are taken care of (especially in full) that they should delete them.

The credit system is ridiculous anyway. How is it that my 18 year old daughter gets added as an AU on 5 of MY cards that I've taken care of responsibly, comes out with a 720 and can get pretty much whatever card she can qualify for income wise, based on MY credit, but because of past mistakes, which I've since paid off in full plus some, I have to wait for them to age off? I will never understand this concept.

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 18:50:02 GMT

I only speak from the policies of this site about disputing accurate information.

Re: Can a credit score get really high with...

WhiskeyR — Thu, 24 Jan 2013 19:59:32 GMT

@guiness56: everything is disputable. Doesn't mean he'll win, but he can dispute anything he wants. Might get lucky, too. I have. Others have.

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 20:02:30 GMT

No, everything is not disputable. If EVERTHING on the TL is reporting correctly and it is your debt, it would not be disputable.

Again, I am only talking about the terms and conditions of THIS website. If you haven't read them you may want to do so.

Re: Can a credit score get really high with...

dciples — Thu, 24 Jan 2013 20:08:27 GMT

Here's the deal. I asked this question, cause mys wife and I have been tetatively accepted by a homebuilder because our credit score should be where it needs to be when the house is finished. That's the "gamble" the lender is willing to take on us. I am hoping that our scores will reach 660 in 5 months so we can apply for a downpaymnet assistant program UT offers. I don't want to try and pay for any of these cause it might screw up my credit. Make sense?

Re: Can a credit score get really high with...

guiness56 — Thu, 24 Jan 2013 20:12:50 GMT

Paying off a collection through a 3rd party CA should not mess up your score. However, I see where you are coming from.

Have you considered a PFD?

Re: Can a credit score get really high with...

Shogun — Fri, 25 Jan 2013 03:23:41 GMT

guiness56 wrote:
No, everything is not disputable. If EVERTHING on the TL is reporting correctly and it is your debt, it would not be disputable.

Again, I am only talking about the terms and conditions of THIS website. If you haven't read them you may want to do so.

Thank you for this post guiness. Yes, advising disputing accurate information is a clear violation of the TOS of myFICO.