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Hello all!
Sorry to ask so many questions, but I am trying to understand if a collection has actually been removed/deleted. So, I noticed a large point increase on my credit report (3 new accounts). Which was a $2200 BOA card (AU), and 2 college loan accounts accounts (for this & next semester). But I also noticed, I went from 2 collections to 1. I recently paid my Sprint collection (directly to Sprint) about 2 week ago. Now does that mean the collection was DELETED? Credit Karma has the collection in the REMOVED COLLECTION section. If so, I havent (hopefully yet) seen any sort of point increase via Myfico, just with CK and Cap1 credit traker.
Also, I am about to pay off my last collection with MCM (Midland Funding) and I requrested a PFD, I got 2 letters in that state:
Dear XXXXX,
Thank you for you recent correspondecne. The purpsoe of this letter is to advice you that we cannot delete our credit reporting of the above-referenced account as requested. Pursuant to the Fair Credit Reporting Act, we are required to accuraltely report information regarding your account and our transcaaciosn with you, and deletedion of the above-referenced account from the credit bureaus would be inaccurate. However, we will continue to requrest that the three major credit bureaus list the status of this account as "disputed".
What exactly does that last part mean? And what actions do I have?
The myFICO tracking will NOT update for a collection removal. You will have to wait for something else to trigger an update (new account, balance change, inquiry...).
@Shockedimpy wrote:
So once that happens would my score increase due to collection removal?
Your score has ALREADY increased. MyFICO has just not detected the change yet.
use creditchecktotal and get the 7 day trial for one dollar, then you can seel all 3 reports
my last collection came off this morning and gave me 61 points
@Shockedimpy wrote:
Any other ideas? Like I've said my balance has changed and it was reported but no huge score increase. Was I wrong to think it was removed? Credit karma has it off my report. I only have 1 collection left. Or did it not process yet and the score will increase.
Thats the likely reason for no change.