@juleslanr wrote:I had a new collection pop up in March of 2014 and paid it immediately. My score took a dive though of course. This past week I was able to convince the manager to remove it off my reports and he DID!! I was elated to see it off my report today!!! It must have JUST come off today or yesterday.
My question is, my score did not budge. Didn't go up nor down. Does the score take time to update once a negative is removed? Or should it have been immediate if it were to go up? Current MyFico is 646 and has been that for two months now.
thanks for your help!!
I had a charge off drop from my credit report a few days ago and my score actually went down. I'm beginning to learn that long term things, such as a sustained reponsible payment history, are somewhat predictable in terms of how it will impact your score. On the other hand, an item dropping off here or there is a total crapshoot, might go up might go down, with no rhyme or reason as to why either scenario happens.
A score is a snapshot of a moment of time, it is generated on the fly from what is in your reports, if it did not increase after the CA was removed it is most likely due to non rebucketing, it may take a month or 2 to get back into a better scoring bucket. I am assuming there are no other negatives on report.
@juleslanr wrote:Thanks for the replies. There are negatives, but no collections. My last negative is in June 2013 and was a late car payment. Several late payments due to very poor judgement on my part;( All spanning from 2008-2013 when I finally learned a VERY hard lesson with a super high car interest. Since last summer, we have kicked into full gear and haven't missed a beat. I was able to remove 5 collections with goodwills. Score went from 498 to 646 since last summer. That $50 collection was an old medical bill that was from 2011... they just now popped it into collections this March (oddly enough the day after we applied for a house to be built).
Do you think it will go up a little at least? Heck I was hoping for at least a few points! No other recent negatives since last June.
That is why it showed up to stop you closing on your house until you paid them. A mortgage app will bring every scumbag out of the closet to the closing table with their hands out.... If scorewatch gave you a score today with it removed then there is not going to be any gain for it being removed right away.
