01-30-2013 01:30 PM
I sent a goodwill letter a few weeks ago and received the below uodate on my Scorewatch today. The status went from 120+ days past due to "bad debt; placed for collections". The description now also states charge off. Are the changes going to hurt my credit score? I am hoping to get a mortgage in the next few weeks!
Account opened: 7/2005
Description: Charge off account
Account transferred or sold
Amount in H/C column is credit limit
Contact: CAP1/DAMARK INTERNATIONAL INC, PO Box 5253, Carol Stream, IL, 60197 • (800) 695-6950
02-01-2013 08:50 PM
Seems like it should be the same as before. I don't see any change that should hurt you.
02-01-2013 09:00 PM
02-02-2013 09:44 AM
hey there - wondering if you saw an impact to your score - positive or negative? i just had the same thing happen in the past week actually with the exact same status changes so i'd love to get some insight.
02-02-2013 10:15 AM
Actually, the new reporting is better. The old one had the status as 120 days past due which would not be good. The new status shows as a collection.
does that mean that a collection is preferable to a 90 or 120 day past due?
02-02-2013 10:18 AM