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i am on the journey to rebuilding my credit and would appreciate some info. I recently pulled my CR and to my surprise it isn't too bad but not the best. I have 3 collections, one from Harvard Collections a sprint acct which is now paid off I paid sprint directly, is it possible to get the collection taken off now? Second collection is from Calvary Portfolio I believe for an old HSBC card, it reports on all 3 reports however it hasn't been updated in a about a year, until I did a DV now on my EQ report it shows late as of 2/15? Not sure why it shows late if it's not a revolving acct? Lastly, MCM shows up on the report but hadn't updated in a while. Is it worth it to try and GW the OC to see if they are willing to remove the charge offs, and does it help my score if charge offs are deleted?
@Greene718 wrote:i am on the journey to rebuilding my credit and would appreciate some info. I recently pulled my CR and to my surprise it isn't too bad but not the best. I have 3 collections, one from Harvard Collections a sprint acct which is now paid off I paid sprint directly, is it possible to get the collection taken off now? You would need to send a GW letter to the CA asking that it be removed. http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...
Second collection is from Calvary Portfolio I believe for an old HSBC card, it reports on all 3 reports however it hasn't been updated in a about a year, until I did a DV now on my EQ report it shows late as of 2/15? Not sure why it shows late if it's not a revolving acct? A CA/JDB cannot report a monthly payment history like the OC can, they can say its late and I would offer them the PFD if its not going to drop off anytime soon, updating drops Fico score, its a weapon they use to keep you from getting new credit.
Lastly, MCM shows up on the report but hadn't updated in a while. Is it worth it to try and GW the OC to see if they are willing to remove the charge offs, and does it help my score if charge offs are deleted? If the OC sold the debt to MCM and are reporting 0 balance they took a loss on your and may not be in a forgiving mood but there is no reason you cant try with a GW letter. The removal of derogs improves score but your biggest bump comes when your last derog leaves your CRs.
Collections are reported by debt collectors only on debt that is delinquent.
When you state that they reported that it shows late, do you mean that the debt is delinquent, that they have reported the level of delinquency status of the OC account, or that they have reported a new monthly delinquency that occured as a result of delinquency with payment to the debt collector after they obtained collection authority?
It is common, and permissible,for a collection to show the level of account delinquency with the OC.
However you dont have a separate account agreement with and bills are not sent by a debt collector, so you dont accure additional delinquencies with them.