Experian Fico2 dropped 76 pts!

[Anonymous]

Help! My Experian Fico 2 score dropped 76 points after a I paid off the total balance of my credit card and had a collections added to my account. The collectios account was just recently added for a bill from three years ago (which I was never received nor did the collections company contact me). I have been on top of my credit the last 8 months in hopes of buying a house this summer and this collections did not appear until this past weekend when I checked it. This drop drastically reduced my chances as now my midscore is lower than required by the bank.  I just paid off the medical collections account but I need to recoup the points. Does anyone have any tips?

Thank you in advance!

[Anonymous]

The only way to recover is to convince the collection agency to remove the entry from your file. You need to contact them and ask them if they'd be willing to do that.

[Anonymous]

I tried that but they are unwilling and stated that only the orginal creditor can remove it, whom I called and they claimed only the collection agency will do. The collection agency stated they are only able to update it as paid on the report.  

[Anonymous]

---

@Anonymous wrote:

I tried that but they are unwilling and stated that only the orginal creditor can remove it, whom I called and they claimed only the collection agency will do. The collection agency stated they are only able to update it as paid on the report.  

---

The collection agency is lying, and the original creditor is correct. So your focus should be on the CA. Check the rebuilding forum for examples of what is known as a goodwill letter.

[RonM21]

I agree I think the CA can do it. Trying a GW would be my next step.

[Anonymous]

---

@Anonymous wrote:

I tried that but they are unwilling and stated that only the orginal creditor can remove it, whom I called and they claimed only the collection agency will do. The collection agency stated they are only able to update it as paid on the report.  

---

Did you do a search on here for that collection agency to see if others have had any luck with PFD?

[Anonymous]

I'll try this. In the examples of the GW letter, it sounds like it is sent to the orginial creditor, in my case a hospital. I apologize if this is a redundant question but do I send the letter to the Credit Agency (Transworld), to the hospital or to both?

Thanks for all the great advice so far!

[kennerchick]

---

@Anonymous wrote:

I tried that but they are unwilling and stated that only the orginal creditor can remove it, whom I called and they claimed only the collection agency will do. The collection agency stated they are only able to update it as paid on the report.  

---

If they appeared without your receiving a dunning notice, I'd go to the BBB of the state their home office is in and submit a complaint against them that way.

I did this with a few and they removed the collection.

I would also include the part about the OC says the debt collector is the only one to remove it and the debt collector says the OC is the only one to remove the debt from the report.

I'd put as much as you can in that complaint.  Also check to see if collection agencies have to be registered where you live and if this debt buyer is registered, if not, that's another and very strong negative and it will get them removed.  Calvary and Jefferson Capital aren't registered in Louisiana and that got them removed from my husband's reports.

Google the HIPAA Letter Process for medical collection and follow it exactly as laid out.

Good Luck!

[Anonymous]

I did send a complaint to the BBC stating I never received a notice nor phone call from the agency and only discovered the collections when I checked my scores. Hopefully that does do something! I also had a credit counselor in my area write up a note asking for validation of the debt as well which I faxed to them.  

[Anonymous]

Send an email to Senior Management at the hospital.

Upper level executives will not respond but they WILL get their accounts payable or billing/collections supervisor to contact you.

I wrote a lengthy message to 7 members of the hospital team about my situation. The collections company was giving me the run around with a lot of stuff, which resulted in them getting fired from the hospital listening to the recorded calls. I explained to them how I got in the situation & how I've been working hard to get my way out - which I have!!! Although, verbally, it was mentioned that the collection account would not be removed from my reports, they DID remove it. It may take some time, but keep contacting important people with decision making authority & you WILL get results.