Rebuilding Your Credit

[UpUpAway]

Hi All,

I am just curious. I had an account go into collections in July of 2006. I am now working on increasing my credit score and when I received myfico score on of the negatives listed was that which went into collection. 

I was completely unaware of the 32 dollar bill that went into collections and immediately paid it when I found out about it. Probably sometime in 2008-2009.  

My question is this, how long will this affect my score and by how much? 

[RobertEG]

The date it was placed for collection, reported to your CR, or paid does not control its CR exclusion.

CR exclusion is based only on the DOFD on the OC account.

What was the DOFD with the OC?

[UpUpAway]

To be completely honest im not sure. The only date I can find when it was forwarded on to the Collection Agency. What are the different scenarios based on the DOFD relating to collections and the OC account?

Thanks for your help!

[hippychic823]

Would it fall off account 7 yrs after DOFD with OC or 7 yrs after DOFD with CA? This is where I get confused about collections and when they're due to "fall off" the CR....

[rootpooty]

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hippychic823 wrote:
Would it fall off account 7 yrs after DOFD with OC or 7 yrs after DOFD with CA? This is where I get confused about collections and when they're due to "fall off" the CR....

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7 yrs after DOFD with oc. it cant be 7 yrs after DOFD with ca or else they would be selling them left and right and resetting the clock lol

[LIGHTNIN]

CA's can stay on a CR up to 7.5 yrs. Beginning with the DoFD, from the account with the OC.