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Collections questions

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jdxprs1
Frequent Contributor

Collections questions

Does the type of collection account matter? I.e. medical vs old credit card you didn't pay?

Does the number of collections account matter? I.e. if you have 4 collections accounts and 1 is removed, will score go up?
Last app 1/2/2017.
In the garden until at least 6/2/2017.
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2 REPLIES 2
rmduhon
Valued Contributor

Re: Collections questions

If you have 4 collections and get one removed you might see a small increase but it usually isn't very much as long as you still have derogs on your reports.
Message 2 of 3
nupey10
Regular Contributor

Re: Collections questions

I "think" it varies depending on version of FICO.  I have 3 on EX and the difference between FICO 8 and 5 is over 30 points with 8 being the higher score.  Util could play a part as well.  

 




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