Does an unpaid collection updating monthly impact score?

[Anonymous]

I know the collection impacts score - does the updating essentially re-age the collection for scoring purposes?

Do we even know if it does and does FICO read the Open date and not the Update/Reported date?  Or are the CAs playing dirty by 'reporting' no new info and having it update?

Message Edited by Lady_Scarlet on 02-28-2008 07:23 PM

[Anonymous]

yup....it brings it current

[Anonymous]

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HappyDays wrote:

yup....it brings it current

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So, if you have a collection and the CA updates monthly, FICO sees it as a new collection each month, therefore hitting your score each month for a "new" collection that really isn't new?

I know that when LVNV updated the date or something I got an alert saying a new collection had been posted. When I logged in and looked at the alert it said "LVNV has updated your account to change date from N/A to N/A"

[Anonymous]

This is the exception to the "paid collection" vs "unpaid collection" are the same rule-

This needs to move up to the top of your PFD list-

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sidewinder wrote:

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HappyDays wrote:

yup....it brings it current

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So, if you have a collection and the CA updates monthly, FICO sees it as a new collection each month, therefore hitting your score each month for a "new" collection that really isn't new?

I know that when LVNV updated the date or something I got an alert saying a new collection had been posted. When I logged in and looked at the alert it said "LVNV has updated your account to change date from N/A to N/A"

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[Anonymous]

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Timothy wrote:

This is the exception to the "paid collection" vs "unpaid collection" are the same rule-

This needs to move up to the top of your PFD list-

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It is in dispute. CA doesn't own no more, but still updating. Updated after saying they don't own( I called b/c I knew they didn't own) and after I filed dispute via CRA.

CRA's time isn't up yet. Waitting it out.

[sh9730]

Ya know..Im still not 100% this is correct.  I have a collection account that was ASSIGNED in 4/06, the DOFD is still correct listing 6/01 (will drop off soon thank goodness!), but updates as LAST REPORTED every month.  BUT, when I get the "whats hurting your score" message from FICO, it says "you have one recent collection account, this account is 1 year and 10 months old (from the 4/06 ASSIGNED date I assume).  As such, even though it REPORTS each month, as long as the ASSIGNED date stays the same, it does age.  Of course in my opinion it should always be associated with the DOFD (in this case 6/01) for scoring purposes, but that is not what FICO does I guess...but I dont think its treated as brand new every month.

Of course the REALLY important one to make sure doesnt get changed is the DOFD so it drops off at the right time!!!