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Collections vs Accounts

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Tooliebell
Frequent Contributor

Collections vs Accounts

On my TU, Midland Credit Management is the collections section.  On EQUIFAX, it is in the accounts section, as an open account, with a $0 balance and status is 120 days past due.  It is a settled in full account.

 

Is this affecting me differently on each report because of where it is listed?

Message 1 of 3
2 REPLIES 2
fot1
Established Contributor

Re: Collections vs Accounts

I am in the same boat . My tu dropped 40 points, Equifax only dropped 15 points so I think they are scored differently with how they are entered.

Too many to list..
Message 2 of 3
guiness56
Epic Contributor

Re: Collections vs Accounts

A collection should be entered in the collection field but sometimes show up in the account section.

 

No matter where they are, FICO knows it is a collection and scores accordingly.

 

Different reports may contain different information, that is why a collection on one will have more impact than the other.

Message 3 of 3
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