Lates vs collections (what's worse?) - How often pull

[Duncanrr]

I have 3 collections that Im trying to get rid of (supposedly two should be deleted but hasn't happened yet and 1 is in dispute).  I have 3 late accounts (Car loan and two student loans).  The loans are now all current but by question is what impacts score more, the lates or the collections?

Second question: while I'm actively trying to fix my credit reports, how often should I print up the reports to make sure things are done that were promised? I have score watch and was thinking of just using that but I'm not sure if that is enough.

Duncan

[LALALISA]

Duncan, I think it depends on how recent the collections and/or lates are.  I've learned the older they are, the less impact. 

I would use USAA credit monitoring.  Although you don't get a Fico score, you do get 3 in 1 credit reports and you can check them daily.  I love it.  it's really great to track what's being added or deleted from all 3 CRA's. 

Hope this helps.

[RobertEG]

Collections are always a major derog, both in scoring and in view by a creditor.  Yes, they deteriorate in FICO impact over time, but always reflect very negatively in any manual review.  They tell others that not only were you delinquent, but that the creditor had to resort to outside help to collect the debt.

If the collection was preceded by a charge-off, that further  impacts the damage, as i also tells others that not only was the debt delinquent, but reached the state of having been considered "uncollectible."  Apart from FICO impact, they can kill interest by a potential creditor.

Their impact on creditor perception is greater if the debt remains unpaid.  Are the collections paid?