03-02-2013 08:02 PM
A collection is a collection, no matter the amount. It is entirely up to the creditor whether or not they report it. I have seen a collection as small as $10.
EQ and EX are not under any obligation to remove a collection because it is under $100. Neither is TU.
As stated several times, it is the FICO scoring model that does not factor in collections under $100. It does not mean they cannot be on your report. There is no basis for a dispute and no basis the CRAs would remove them based on the information you cited. If TU did, you got lucky, they didn't have to.
03-02-2013 08:03 PM
03-02-2013 08:15 PM
Easy way out?? None of this has been easy. Everyone here is trying to 'rebuild' credit. Mistakes were made in some way that we all are trying to fix (is what I thought people were doing). And what was misleading??
I don't think there was anything misleading personally in the title of this thread.
I have heard the $100 and lower collections not factoring into the TU08 scoring model. Just as It has been explained many times on this thread that this only impacts on version of the FICO scoring model. Which, impacts nothing that Experian or Equifax does, because they purchase different FICO flavors from FICO.
The reason TU removed you account is unclear. Maybe the CSR who handled your situation bought into your reasoning. I had several under $100 dollar accounts on my credit reports, at least 7, and TU did not remove any of them, I had to pay them and GW them away, like always. There is nothing that says they cannot show these accounts. There is nothing indicating this anywhere, and anything saying to the contrary is incomplete and anecdotal.
Congrats on the removal! I don't think anyone is judging you. We just want to be helpful.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO