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Score dropped 81 Points because of one collection!!

New Visitor

Score dropped 81 Points because of one collection!!

I've been rebuilding my credit after identity theft in 2005.  I finally got my score out of the "oh hell no" zone. Yay!  Smiley Very Happy  However, yesterday I received a notice that a new collection has been added to my credit report, and that my score droppped 81 POINTS!!  Smiley Mad

 

I did some investigation, and it turns out it's from Comcast Cable from 4 years ago.  Why did it take 4 flippin years to end up on my credit? Smiley Frustrated  I have a call into them, as I have no knowledge of any outstanding debt.  In fact, when I signed up for their internet services last month, there was no mention of any outstanding debt when they ran my SS#.  Wouldn't that have been the time to mention it? Smiley Indifferent

 

If this turns out to be a debt that I actually owe (and somehow COMPLETELY forgot about), when does the clock start for it to age off of my report entirely?  From the time they posted it to my credit report, or the date of first delinquency? Also, is it better to pay it off if it's that old?

 

Thank you!

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2 REPLIES
Regular Contributor

Re: Score dropped 81 Points because of one collection!!

I would call them and see if they would agree to delete if you PIF

Equifax 712 transunion 693experian 673
Chase freedom 500 Chase United explorer 5000 Discover IT 13000 AMEX PRG npsl AMEX BCE 6000 CSP 12000.AMEX ED 15000 Citi Simplicity 7000
Message 2 of 3
Super Contributor

Re: Score dropped 81 Points because of one collection!!

 

The credit reporting clock starts at 7.5 years from the DOFD of the original account for any charged~off accounts or collections.    Unfortunately creditors can wait any number of years before collecting or getting a CA involved.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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