"Updating" collections

[Outdoorstech1]

I have a collection on my account and I want to know about it updating. It's scheduled to come off this summer. It shows it's been updating every month. My question is will my scores REALLY improve when this collection comes off vs a collection that wasn't updating?

My current FICO with TU is 683.   

I have been trying to rebuld since the last two years. 

[Anonymous]

I am interested in this as well, I have a few negative TL's that are in the same position. Updating every freaking month as "late" since 2010.   My decline reasons always include "Time since late payments too recent" and my reports state that it's only been 5 months since my last late payment.  WRONG.   I have not even had any new credit since 2009 until I started rebuilding in 2015.  All my car and student loan payments hae always been perfect, my SL dating back to 2006.  It's just so frustrating how long all of this stuff sticks with you.   Mine will all fall off by next June so I am expecting massive score boosts at that point.  

[Anonymous]

Are you asking if it will report and score better when it's GONE than when it's a month old and simply not updating?  I think that's a big giant YES.

[Anonymous]

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@Outdoorstech1 wrote:

I have a collection on my account and I want to know about it updating. It's scheduled to come off this summer. It shows it's been updating every month. My question is will my scores REALLY improve when this collection comes off vs a collection that wasn't updating?

My current FICO with TU is 683.   

I have been trying to rebuld since the last two years. 

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A lot depends on what else is on there, but yes, you should see score improvement. HOWEVER, be aware that with trigger based updating that MyFICO uses, removal of a derog does not trigger a score update. So if you are relying solely on myFICO for score updates, you may have to "force" an update.

[Anonymous]

So a new account or balance change which happens sometime in the same general time period as a derog removal, that would trigger a score update that would INCLUDE the effect of the removed derog?

[Schoolbuskid]

call the bureau and see if you can get an "early exclusion" good luck!

[RobertEG]

One thing for certain is that the collection will no longer affect your scoring once it is excluded from your credit report.

The extent to which your score will be effected once that derog is excluded, as stated by others, will depend upon what else remains.

If you still have other major derogs, the score impact of the deletion of only one will not be huge.

It is when your report becomes "clean" of major derogs that you move into a more favorable scoring category, or "bucket." and thus expect significant score improvement.

[Outdoorstech1]

Thanks for the info everyone. As far as my profile goes, this is my last derog collection on my account. I've had Portfolio Recovery collection removed early from my Tansunion and Experian accounts a few months ago. I'm iust waiting on this last collection from Midland and the OC-Chase, to fall off all three bureaus, and I'll have no more collections on my accounts. I was told by an EQ rep in January to call them back after March 5th to remove the midland account which is scheduled to come off in June. So a couple more days I'll call and see if they stick to what they told me in Jan. As far as TU goes I'll call them as well to try and request an early exclusion on the Midland/Chase account.