It's very difficult to read your post because it's all single spaced, and partly cut and pasted . . .
So you know the part about this CA being masked right? the 682yc05551 is some kind of code for the name of the CA. You can get the name of the CA from a credit report that you pull directly from the bureaus or annualcredit.com . That way you'll know who to contact.
So yes, it is possible, but the only way is to write GW letters. There are some samples around here, but the best ones just simply explain what the situation was, and politely request that the account(s) be deleted, or that the negative reporting be changed to positive. They don't have to answer them, and you might get a lot of no's, but you just keep sending them. Folks around here have all kinds of systems to walk the line between harassment and creating a situation where they want to help you. So use your judgment.
You'll need to know the DOFD to determine when it will drop off. The full Equifax report from their site or http://www.annualcreditreport.com
will list that date. It will drop off 7.5 years from then.
From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
You can do the same thing with hard work.
Unfortunately, you do not, in the eyes of the FICO scorers, have a "clean credit file", even if all debts are satisfied.
Any late of 60 days or more, any charge off, any prior collection, or any public record puts you into what is called a "dirty" credit file.
FICO is primarily an analysis of your likehood of defaulting on payments, and thus focuses on prior defaults as a predictor of your future behavior.
Paying off those debts is always commendable in the eyes of creditors, but not in the eyes of FICO. Paid or unpaid collections hurt the same. Paying does not erase the fact of the derog.
It is not only the collections that remain, paid or unpaid, for 7 1/2 years, you also have the monthly delinquencies on the original creditor account that remain for 7 years, and if they led to a CO or collection, were most likely themselves major derogs of at least 90-days.
Okay. Thanks for the help. I once read somewhere that sometimes FICO doesnt calculate in collections under 100.00 . But a collection is acollection right? I will try sending them a goodwill letter at the beginning of this year. This is the only DEROG on my reports on EQ and EXP. My scores are 680 TRANS and 670 EQ. I want to get to 700's! I started at 560 early last year. Ive come a long way .
I think newer versions of the FICO score (FICO08) omit collections less than $100. However, a super vast majority (if not all) lenders aren't even using that version yet, so it'll continue to count. Lenders though will still individually look at and consider collections under $100, even if FICO 08 is being used.
IMO, send the GWs now. You'd have a better shot at getting it deleted immediately after Christmas than immediately after New Years. People get grumpy when they have to go back into the swing of things in January.
Well, I just sent goodwill letters to Credit management. Also I found the names of the CEO, Vice President and President of Brighthouse Networks and sent them one also. Wish me luck. All this to get a $55.00 collection off my credit. If only it could be easier!
I will only offer you one thought on why a $55 collection may not be viewed as "trivial" by future lendors, or by FICO.
Creditors know that consumers, particularly in this economy, often run into payment problems. They just cant somethines make the payment.
But for a small, $55 debt that is not paid, and even allowed to then go into collection, that may signal the potential creditor that you just decided not to pay the debt, even though probably able. That is a consumer trait that I would not want to appear in my CR, and one reason why FICO risk analysis still treats it as a major derog, and does not drop it until 7 1/2 years from the orignal OC debt.
Just my opinion.