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guiness56
Posts: 22,408
Registered: ‎01-17-2008
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Re: FICO Decrease after having collection removed?!

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llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: FICO Decrease after having collection removed?!


guiness56 wrote:

Well, darn.  Sorry. 

 

 


It was at the top of my list.

Member
sauer29
Posts: 14
Registered: ‎03-05-2013
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Re: FICO Decrease after having collection removed?!

After reading that, It makes sense. Hopefully my score recovers over the next few months...
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sauer29
Posts: 14
Registered: ‎03-05-2013
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Re: FICO Decrease after having collection removed?!

llecs, to answer your question; it was listed in the collections portion of the report. I compared my score power report from a week ago with today's and it is not present in today's but is in last week's. So if not rebucketing, what else? Hmmm....
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llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: FICO Decrease after having collection removed?!

Util...maybe crossing that 10% threshold did it. Maybe there was a small gain from the removal of the CA that was offset by a loss in util. A simple wash. Who knows.

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sauer29
Posts: 14
Registered: ‎03-05-2013
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Re: FICO Decrease after having collection removed?!

I don't know.  Disappointing though.  Thanks again for all the thoughts and insight.

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sauer29
Posts: 14
Registered: ‎03-05-2013
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Re: FICO Decrease after having collection removed?!

I spoke to customer service.  She looked up my info and explained that I was "rebucketed".  The reason the alert contained the language about my file containing collections, public records, etc, was because my new "bucket" is populated by people who do not have these things.  She further explained that the reason I did not see a score increase with the removal of the collection was due to its age.  And finally, the 1 point decrease was due to the $4 balance increase on my credit card.  So, mystery solved.  Thanks for the replies!

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llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: FICO Decrease after having collection removed?!


sauer29 wrote:

I spoke to customer service.  She looked up my info and explained that I was "rebucketed".  The reason the alert contained the language about my file containing collections, public records, etc, was because my new "bucket" is populated by people who do not have these things.  She further explained that the reason I did not see a score increase with the removal of the collection was due to its age.  And finally, the 1 point decrease was due to the $4 balance increase on my credit card.  So, mystery solved.  Thanks for the replies!


I'd say she's wrong if the 120-day is still reporting. Typically a rebucket results in a larger decrease too when an older CA is removed (but not always). One way to tell is to pull your EQ FICO report. If the pos/neg items are jumbled up, then that's a clear indicator of rebucketing. If relatively the same (minus the collection notation), then no rebucketing. And when I say the pos/neg reasons are jumbled is if your #1 postivie thing helping became a negative and a top negative became a positive.

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sauer29
Posts: 14
Registered: ‎03-05-2013
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Re: FICO Decrease after having collection removed?!

llecs, I assume you're talking about the portion of the report with the scale?  I compared my last report with yesterday's and the negatives are different.  Previously, my top negative was collections/delinquency.  Now it is serious delinquency.  Positives remain the same.  I guess that does indicate a rebucket?  Also, since you mentioned the 120 days late account, I'm wondering if I should do something about that.  It's been paid for 5 years now.  The status is +120 days past due.  Is that correct?  Should it be something else.  Maybe I'm thinking about it wrong, but it almost makes it sound as if I still owe it and am not paying.  Should I dispute the status?  I don't want to just dispute things indiscriminately and hope it works. 

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llecs
Posts: 32,880
Registered: ‎08-04-2007
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Re: FICO Decrease after having collection removed?!

[ Edited ]

sauer29 wrote:

llecs, I assume you're talking about the portion of the report with the scale?  I compared my last report with yesterday's and the negatives are different.  Previously, my top negative was collections/delinquency.  Now it is serious delinquency.  Positives remain the same.  I guess that does indicate a rebucket?  Also, since you mentioned the 120 days late account, I'm wondering if I should do something about that.  It's been paid for 5 years now.  The status is +120 days past due.  Is that correct?  Should it be something else.  Maybe I'm thinking about it wrong, but it almost makes it sound as if I still owe it and am not paying.  Should I dispute the status?  I don't want to just dispute things indiscriminately and hope it works. 


I still say no to rebucketing, but you never know. Definitely send GWs on the 120. My answer might be different if it were in its 6th year when it's months away from disappearing. ETA...and it would also depend how much this TL helped your AAoA.

 

They can report as +120 if ever in the past the account were 120 or worse. As soon as the late disappears, then the status will disappear.


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