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Established Member
Posts: 17
Registered: ‎08-20-2011
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Need some input

Trying to get up to a 620 middle score, my FICO scores as of 8/4/11 (lender pulled) were: 650 Equifax, 574 Transunion, 550 Experian


On the report as of 8/4/11 is:

Student loans:

$18,714 - in deferment

$3,500 - in deferment

$2,750 - in deferment


Cards in good standing:

Chase - authorized user - $17,000 limit, balance of $1732 - reporting to Experian only

Capital One - secured - $300 limit, opened 4/2011, balance of $7 - reporting to all 3

Bank of America - secured - $300 limit, opened 4/2011, balance of $77 - reporting to all 3



Applied bank - balance of $1006 - last reported 02/2011 - reporting to Experian and Transunion

Asset Acceptance - balance of $983 - last reported 07/2011 - reporting to all 3

First Premier Bank - balance of $348 - last reported 04/2011 - reporting to all 3

Phoenix Recovery Group - balance of $795 - last reported 07/2011 - reporting to Experian

Chase-Toys R Us (now the Asset acceptance collection) - balance of $0 - reports to all 3 as Transfer - charge off

Credit One Bank - balance of $0 - reports to all 3 as Transfer - charge off

Famsa (now the Phoenix Recovery collection) - balance of $0 - reports to Experian and Transunion as transfer -deliq 120+

HSBC Bank - balance of $0 - reports to all 3 - SOL runs out 11/07


What i've done/changes since 8/4/11 report:

1.  Contacted Applied Bank - account was in collections - collection agency agreed to $800 pay for delete - I paid

2.  Contacted First Premier Bank - account was in collections - collection agency accepted $229 payment - will report as $0 balance paid in full

3.  Contacted Asset Acceptance - collection agency accepted $495 payment - will report as $0 balance paid in full

4.  Paid down Bank of America credit card to a $0 balance

5.  Paid down Capital One credit card to a $0 balance

6.  Capital One offered me a new card with a $300 balance at the beginning of July, I accepted.  Wasn't paying attention and statement got issued with a balance of $64.  I paid that $64 and balance is now at $0.  The new card was not on the 8/4/2011 report.


Any thoughts/ideas on how much these changes may possibly increase or decrease my score?  My estimated Transunion score increase from lender for getting the Applied Bank, First Premier Bank, Bank of America Card and Capital One card to report as a 0 balance on my report is 44 points, but that was with Applied Bank showing a $0 balance, not being deleted.

Community Leader
Epic Contributor
Posts: 29,589
Registered: ‎03-19-2007
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Re: Need some input

Hi, and welcome to the forums.


Your score is most likely hindered by the major payment derogs reflected by the multiple collections.

Until you report is cleared of major derogs, it is difficult to gain significant improvement.


Just a few comments about collections.  FICO does not care one whit about payment or non-payment of debt.  It cares about the derogs and delinquencies that occured along the way.  So payment of any collection, including their update to paid status, $0 due, etc. while good for your overall credit, is not reflected in any improvement in your credit score.


Credit score improvement is only achieved by the deletion of the prior negative reporting, either my their agreement to delete prior to its normal CR exclusion date, or waiting for the 7 years plus 180 days from DOFD on the OC account to expire.




Posts: 95
Registered: ‎03-25-2011
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Re: Need some input

I just wanted to say that paid collections are very possible to get removed with GW's.


If you sincerely put a letter together and emphasize that you know it is not their responsibility to help you, but found a moment to remove the collection, it can go a long way.


I've gotten 3 removed that way,

1.Bonnevile Collections

2.National Business Factor

3.Atlas Financial


Although it took 3 months but just two letters each.  Start with the accounts that were paid in full.  


Starting Score: May/2010:TR=566,EQ=604,EX=624
Current Score: TR= ?,EQ=680,EX= ?Closed 12/2012 w/769 score just in time before ex's CO hit me

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