I have three old paid collection accounts about to come off my credit reports, which will leave me with one old paid collection on only one CRA report. Should I expect a decent score increase, or since they are old & paid, is it likely to have negligent effect? Won't see me score for a few more weeks ... not sure what to expect.
Starting Score: TU 490 on 11/2012
All will be removed -- just the one that I said remains on TU needs a letter sent to TU first (I have letter from CA denying they had any collection for me & am forwarding to CRA). Best I can tell, the others are already gone due to obselecensce and GWs. There are still a couple of accounts paid great in past 1.5 years, which have older late pays. Also, ECMC has a paid collection for student loan on 2 of my reports. I'm working on getting that off, but for now that will remain. It has always reported in accounts with negatives, not in collection. Everything in collections section is gone or about to be. It would be very nice if that gave me a decent little boost. We'll see!
Oh, yeah, and ECMC is supposed to come off in July. It's a pretty significant number of deletions. But, I will try not to get my hopes up. Don't know when I'll be checking scores again. I have a quarterly TU w/FICO coming later this month, but don't think I'll get the other two for awhile. Just have to cross my fingers the boost is decent. Here's hoping...
Scores aside, you will have a cleaner CR, and that is what you want. Scores are sometimes slow to rise, but cleaning that report up makes it much easier for your scores to grow.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
Definitely, Shogun. I'm very excited about it. I am down to just a few negatives: an education loan paid collection that falls off in July, a foreclosure that falls off next year, and some late pays from 18 months ago on three otherwise good accounts. Plus, one paid charge off from a city, which I've been unsucessful in GWing so far. I really don't know what it even is, but I'll keep working on it.
I had tons of stuff removed in the course of the last six months (including big baddies Midland and Asset Acceptance) & my current history (last 18 months) is great ... so, I do expect score building over time should be much easier now. YAY!!!
You're definitely headed down the right path!
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
My CK score is up 15 points just this week, and it fails to include new CLI and general lower utilization ... so, that's all a good sign. I get my quarterly TU through myFICO in two weeks, so I can see if it's also up. Cleaner report is most important -- sccore bump? A highly appreciated perk. :-)
I had 3 paid collections removed from Equifax last week and my score went up 59 POINTS!!! so it is helpful. Also keep in mind that scores are just like a guide but having those removed from your report it is better also for underwritting decisions 
On average, I saw about 3-5 points for each CA as they came off. I got a nice bump when the last one came off but I don't remember the exact number but it was significant.
Your CR takes a hard ding when the first CA hits it and the dings lessen as each CA is added. Improvement is just the reverse with the greatest score gain made when the last CA comes off.
