Reply
New Member
Posts: 1
Registered: ‎04-15-2012
0

Under "Collections " tab at MyFICO

How can PAID COLLECTIONS still be under the "Collections" tab if they are settled/Paid and closed.

Can they not be listed as "current closed" ?

Please help

Epic Contributor
Posts: 20,925
Registered: ‎03-19-2007
0

Re: Under "Collections " tab at MyFICO

Upon payment of the debt, the debt collector is required to report the collection as closed, and the balance under collection as $0.

Deletion based on payment is not required.  In fact, it is contrary to the credit reporting guidelines issued by the CRAs.

Highlighted
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Under "Collections " tab at MyFICO

On a FICO standpoint, it doesn't matter if you owe $0 or $10k, the damage is equal. There's nothing that can be done to make a collection a positive account, other than to get it deleted.

 

Look around in here for "GW letters" and send them one, asking for a deletion.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.