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I really wish MyFico's ScoreWatch Alerts included removed accounts...
Here's one alert that some might find slightly misleading
As you can probably guess, it wasn't the balance decrease that gave me the bump. It was my final delinquent account getting removed!
It was an old medical bill for $95 from 2008 that popped out of nowhere about four months ago. Totally depressed me for a solid two weeks, as I had worked so hard to clean up my report. I'd call the collection company about once a week trying to PFD, but they would not budge. Then the other day I found a really old bill (2004) from the same collection agency in my drawer. Since I knew that they could no longer report on it, I decided to write a Goodwill email to them asking to let me pay the old bill that was for $400 in exchange for removing the more recent $95 collection from my account.
Two days later I got a call confirming that they would send me a detailed statement of the $400 bill, and have the $95 bill removed within the next 72 hours!
Great score leap!
But wouldn't that $95 collection have fallen off in a month or two on its own? Did you try to get an early exclusion? I hate that you had to spend $400. Are you currently apping for something and couldn't wait?
It should have fallen off almost two months ago, but somehow they managed to update the amount and it got a revised reported date of 2010. So it would have stayed for a while longer. But even then, I honestly don't mind paying the $400. I didn't have the money back then, as I was a fulltime student with no health insurance. I now have a decent job, so I'm more than happy to settle my debt. I just wish we could all do it without it involving the damn credit agencies
That said, I am actually getting ready to apply for mortgage for my first home, so I really needed this gone quick!
Needless to say, I'm friggin elated! I just wonder how this score compares against my FICO 04.
EDITED.
Congrats on getting the last baddie off, but hard to see how that small collection was the only reason for such a large score jump....
I have only one small medical collection (from 2013) on my EX, and my score for them not far from my TU/EQ with no baddies.
Wow, EQ is harsh on any baddie I guess.
Well, anyway. your scores are great, good luck!
Awesome work Joteism. The same thing happened to me several months ago and slammed my score 50pt+. PFD and be gone!
Thank you!!
I'm pretty sure there should be nothing else in my past that should come back to haunt me!
The Mortgage board is full of stories of random collections popping up right after the initial soft pulls by lenders... I guess I'll find out soon enough.
@Joteism wrote:Thank you!!
I'm pretty sure there should be nothing else in my past that should come back to haunt me!
The Mortgage board is full of stories of random collections popping up right after the initial soft pulls by lenders... I guess I'll find out soon enough.
That's because they aren't soft pulls. When a lender pulls your credit for a mortgage it is most definitely a hard pull.
And to top it off, CA's subscribe to a service by the CRA's whereby they provide a list of people seeking mortgages. The CA compares the SS# against their database and if there is a match, they go after the new mortgage seeker with any account they have knowing the consumer has to pay it to get the mortgage. That's why you want to take care of these things before making any sort of lender app. The CA is negotiable before you apply for a mortgage but not afterward. They know it has to be paid to close. Make sure you make all your deals solid before you apply for a mortgage if you have outstanding debt and don't tell them you are doing it to buy a house, they become intractable then.
They sell the same list to other mortgage lenders too
Here is a sample pitch (its called a Trigger Lead) - almost sounds like a used car salesman if you read the body of this link http://www.streetdirectory.com/etoday/trigger-leadsthe-guide-to-using-them-effectively-ucjwpu.html