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I AM BEYOND ANNOYED!!! NEW COLLECTION :(

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Anonymous
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Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(

So I just got off the phone with another agent from AARGON, they said they would submit my account for deletion from the CRA!!! Is this a valid letter for removal? This is what they gave me...they said generally takes 30-90 days for CRA to remove the item from my CR. They said they update CRA 1st Saturday of every month...so, is this technically considered a PFD and this will be removed from my CR?

 

Sorry if I already answered my own question, but I've never had a successful PFD and I am still a n00b in rebuilding..thank you for any insight//

 

Message 11 of 19
Anonymous
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Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(

Yes, give it 30 days to update. 

Message 12 of 19
Anonymous
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Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(

Looks good to me.  Just be sure to keep that letter in your files in case they give you any trouble later on.

Message 13 of 19
Anonymous
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Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(


@Anonymous wrote:

Looks good to me.  Just be sure to keep that letter in your files in case they give you any trouble later on.


Sweet! Thank you for the advice...my first successful PFD! This was stressing me out so much..

Message 14 of 19
Anonymous
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Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(

A collection account under $100 is not taken into account when calculating Fico 08, so that would explain your score going up.

 

Message 15 of 19
Anonymous
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Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(


@Anonymous wrote:

A collection account under $100 is not taken into account when calculating Fico 08, so that would explain your score going up.

 


Not taken into account, in what sense? Not having any impact on my CR being that it's under $100? But still, a negative impact nonetheless right?

Message 16 of 19
tufa4311
Established Contributor

Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(


@Anonymous wrote:

@Anonymous wrote:

A collection account under $100 is not taken into account when calculating Fico 08, so that would explain your score going up.

 


Not taken into account, in what sense? Not having any impact on my CR being that it's under $100? But still, a negative impact nonetheless right?


As long as it's on your CR it's taken into account - there are a number of ways this can negatively affect you, it can lower your score, it can harm your relationship with the OC, and when applying for products in the future, if you CR is manually reviewed it will be seen and may cause you to be denied or affect the interest rate of the product in question. The affect of time will dimish the harm the collection will cause on all of the above points.

796 TU FICO 08 (08/2018)
758 TU FICO 08 (01/12/2016)
753 TU FICO 08 (11/21/2015)
740: EQ Score Power (Beacon 5.0) FICO 04 (01/23/2015)
755 TU FICO 08 (01/21/2015)
652 TU Lender Pull (06/10/2014)
665 TU FICO 08 (05/21/2014)
Goal: 800+
Message 17 of 19
Anonymous
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Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(

A manual review might make it harmful, but it does not affect Fico08 scores. It may affect later versions of Fico and definitely affects earlier versions of Fico, but the Fico08 model doesn't count collections under $100.  I'm too lazy to google to find this information, but I did read it recently and I've also noticed the effect on my own reports. I have four or 5 collections under $100 that do not affect my score as they come off (or on). 

Message 18 of 19
Anonymous
Not applicable

Re: I AM BEYOND ANNOYED!!! NEW COLLECTION :(

i would except 20-25 point increase when it removes.  You'll basically gain back what you lost when you payed down your other account.

Message 19 of 19
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