Reply
Regular Contributor
Posts: 266
Registered: ‎09-05-2012
0

Collections Acct, Does Open or Closed Matter?

There is a collection account on my wifes account. On one bureau (Trans Union) it is showing open. The other two it is showing closed. Just wondering if this would have a huge impact on her scores?

 

Should I dispute as closed?




Mega Contributor
Posts: 19,501
Registered: ‎03-19-2007
0

Re: Collections Acct, Does Open or Closed Matter?

Any collection, until terminated or debt paid, has its own status of an Open collection.  It is separate from any open or closed status of the OC account.

 

It is quite possible that the debt collector terminated its reporting to only one or two CRAs, while keeping its status as open with a third.

Thus, I dont see basis for disputing their reporting as inaccurate.

The scoring impact is the reporting of the collection itself, not its current active status.

 

Frequent Contributor
Posts: 367
Registered: ‎06-02-2008
0

Re: Collections Acct, Does Open or Closed Matter?

It hurts, regardless of closed or active.  I had one disputed and deleted only for it creep back in and made my EX score drop 15pts.  Never the less it's due to come off permanently by Jan '13.  PFD is the best recourse.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
--
Homeowner since 05/29/13

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 based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.