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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 Charge Amount in H/C column is credit limit
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Anybody?
Seems like it should be the same as before. I don't see any change that should hurt you.
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.
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.
thanks!
@guiness56 wrote: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?
No, I'm saying that a collection can't report as current status of 120 past due, it has to report as a collection. It can report as worst delinquency was 120 past due.