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A "Not Mine" collection placed on account caused 30 point drop

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Debtrecycler
Established Member

A "Not Mine" collection placed on account caused 30 point drop

I had a collection erroneously placed on my account.  I discovered it immediately(thanks to my scorewatch) and was able to get it removed within a couple of days...BUT my score has still not recovered the 30 points it dropped.  Nothing else going on --no knew cards etc..absolutely nothing.  The point drop is specifically connected to this collection which is no longer there (deleted)  Suggestions?
Message 1 of 5
4 REPLIES 4
llecs
Moderator Emeritus

Re: A "Not Mine" collection placed on account caused 30 point drop

The 30 point drop was noted by ScoreWatch, right?

 

Did you puchase a new EQ FICO report from myFICO.com since it was removed?

Message 2 of 5
Debtrecycler
Established Member

Re: A "Not Mine" collection placed on account caused 30 point drop

I was waiting for a scorewatch alert before purchasing my new report.  Do you think my score may have already recovered and it just has not been picked up by scorewatch yet?  I have the confirmation from Equifax that it was deleted from my report.  

 

So frustrating!  I am just glad I know for certain nothing else was going on  

Message 3 of 5
haulingthescoreup
Moderator Emerita

Re: A "Not Mine" collection placed on account caused 30 point drop


Debtrecycler wrote:

I was waiting for a scorewatch alert before purchasing my new report.  Do you think my score may have already recovered and it just has not been picked up by scorewatch yet?  I have the confirmation from Equifax that it was deleted from my report.  

 

So frustrating!  I am just glad I know for certain nothing else was going on  



Your scores don't exist until you (or someone else) pulls them. They are generated at that moment, based on whatever is on your report at that time.

So since you know that the collection is gone from EQ, if you wanted to pull (= pay for) another report, you'd see the recovered score. Otherwise, if you can hang in there, you'll get a Score Watch alert in the next few days to a week, and you'll see what your score did without having to pay. You won't have the report with the score unless you pay for it, though.

The scores-don't-exist-until-they're-pulled is a very strange thing to get your brain around, I know. Smiley Tongue
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 5
Debtrecycler
Established Member

Re: A "Not Mine" collection placed on account caused 30 point drop

Thanks for the information--I did not realize that about scores.  So, now I get it--it is possible that your scores actually increase before score watch reports. 

 

I love these boards...such a wealth of information! 

Message 5 of 5
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