08-10-2009 11:23 AM
08-10-2009 12:11 PM
I hope others chime in. I have four 5 1/2 - 6 year old collections too....
08-10-2009 12:13 PM
If the collection is reporting correctly it should not be counting toward history. If it is not reporting correctly and you get it removed you will lose the history on that account which could cause your score to lower.
But again, it is your only negative so you may see an increase.
It really depends on how it is reported.
08-10-2009 12:30 PM
08-10-2009 11:22 PM
Thanks so much for the advice everyone. I'll try it. I already sent in a letter to the collection agency offering a pay for delete. I don't see any reason why they wouldn't accept it as it's going to fall off next year anyway. I hope it causes a jump in the credit score. I'll post if it does/doesn't after it comes off.
I have read in various forums some people saying a collection that old coming off didn't add on any points. And others said it did cause a bump up so I'm curious how it works out.
08-10-2009 11:23 PM
Just out of curiosity, how much were the collections you paid off? Where they big? Mine is only around $100. Not sure if that makes a difference.
08-11-2009 04:08 AM
My question is on the date of the debt. What are you basing it on, for purposes of credit scoring?
What is the actual DOFD on your account with the original creditor?
CA accounts drop, not based on any activity with them, but only upon the date of your 30-day delinquency with the original creditor which led up to the collection account.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.