Paid off collection how soon will I see a jump?

[lrk1203]

Just paid off a very recent collection of $1200 after I got a letter and email from them stating they would take it off my credit report if I paid in full. I paid it Sunday so how soon can I expect to see a change in my credit report/score? I just checked today and I had a 5 point drop because I did something that I didn't know would affect my score. I applied for a bunch of transfer balance credit cards all at once ( a lot!) and of course my credit score was too low but now it shows up as all of these inquiries and I feel so dumb because I am trying to get my credit score up in the next couple months so I can get approved for a home loan. My score was 619 and went down to 614 . If I paid a recent collection off how many points can I expect it to go up by?

[HigherFico]

I'm not sure exactly since it depends what is already on your account but with the entire tradeline deleted you should see a nice jump. When I was told something awas going to be deleted they said it would take about 30-60 days and it took a month. I have read that some ppl can get a dletion in a matter of days. Guess it just depends. Hopefully some of the experts will chime in soon

[nativenyer]

They can delete immediately if they choose to do so.  I had a charge-off removed this month and it took roughly 4 days from the time I was notified in writing that it would b deleted.  I just got off the phone with an OC about a paid collection and they instructed the CA to delete.  They told me to give them up to 30 days and if I don't see that it has been removed in that time to give the OC a call and they would take care of it.  It just depends on the CA.

[guiness56]

Sometimes the CA will wait to the next reporting cycle or they do not use e-Oscar to send in the updates.  If that is the case it could very well be a month or more.