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Collection pay off

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Anonymous
Not applicable

Collection pay off

So I have about 600$ in total collection I just made my first 50$ payment a month to pay it off.
will this already raise my credit score since I'm making payments now?

Message 1 of 3
2 REPLIES 2
Sandman771
Valued Contributor

Re: Collection pay off

I am not sure. I paid one in full last week and mine went up 25 points, so that was a good thing I think. the other one that is paid isn't showing paid yet for some stupid reason. 

Starting Score: EQ497/TU496/EX 499
Currently: EQ 620 TU 654 EX 627
in the garden since 6/16/2021
Message 2 of 3
RobertEG
Legendary Contributor

Re: Collection pay off

If the debt collector only has assigned collection authority and the OC is also reporting, paying down the debt also requires the creditor to reduce the balance due on your account with them.  

If your account with the OC is revolving, that will lower your % util, and thus help in scoring.

 

Otherwise, payments made to the debt collector will not improve your scoring.

Message 3 of 3
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