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I had a collection agency place a negative item on my credit report. The amount is 52K! It should be cleared up with all agencies once the dispute is processed. How many points may my credit score improve? "It depends" is not the answer I'm looking for. I'd like a range if anyone has a clue. Thank you.
@Anonymous wrote:I had a collection agency place a negative item on my credit report. The amount is 52K! It should be cleared up with all agencies once the dispute is processed. How many points may my credit score improve? "It depends" is not the answer I'm looking for. I'd like a range if anyone has a clue. Thank you.
Hi, and welcome to the Forums!
I can't give you a guesstimate or range, only partly because I'm not among the scoring gurus we have on here - and even they would need a much more detailed picture of your credit profile even to hazard a guess.
Hopefully, one or more of them will be able to respond, but in the interim, you might run your info through the FICO Score Estimator and see if that gives you any idea. Do your info with the derog first, then redo without it.
Hope this helps, and welcome again.
I have nothing else. It's a clean report except for Nationstar screwing us up.
A brand new collection can drop your score 75-100 points, if it was clean before. It varies though, depending on what else you have going on, like if you allow balances to report, and how old your credit history is on each report.