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Established Member
audiprincess
Posts: 16
Registered: ‎07-01-2007
0

Re: How much will last collection on credit report raise my score?

Do you have any charge offs on your report? 

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LIGHTNIN
Posts: 4,189
Registered: ‎03-24-2008
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Re: How much will last collection on credit report raise my score?


Misshopeful72 wrote:
I have one recent collection coming off my report and wondered how many points my score should increase? This was the only collection on my report. I still have debts that were included in my bankruptcy on my credit. Smart credit said this collection has a high impact on my score.

It depends on what you mean by "recent collection". Do you mean the debt was recent or the CA just reported it on your CR?

 

If I can recall, my last CA was about 6 or 7 yrs old at the time, it was deleted or dropped off my CR. I didnt see a jump in my score,so I think I was rebucketed.My score was in the mid-high 600's, then stayed the same for a year, after that it took off, now it's 742.

Only have 2 baddies left, 1 late to drop off next month and the last late will drop off early next year.

FICO's Oct 2013 TU711 EQ713 EX723~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Established Contributor
pakman92
Posts: 650
Registered: ‎03-01-2012
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Re: How much will last collection on credit report raise my score?


gettingstarted wrote:

Depending upon what type of collection that it is you could see a significant jump in your score had one fall off two weeks ago jumped 53 points to join the 700 club


how and why does kind of collections matter?


My Starting Score: EQ: 691 (11/30/11) TU98: 726 (11/30/11)
My Current Score: EQ: 779 (04/22/13) TU08: 835 (06/03/13)
DW Starting Score: EQ: 742 (03/02/12) TU98: 748 (03/02/12)
DW Current Score: EQ: 784 (03/11/13) TU08: 775 (06/03/13)
Contributor
Misshopeful72
Posts: 185
Registered: ‎03-05-2012
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Re: How much will last collection on credit report raise my score?

I have a few charge offs but they were included in my bankruptcy. The collection was from 5 years ago but they just put it on my credit report in August.
EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico
Moderator
LIGHTNIN
Posts: 4,189
Registered: ‎03-24-2008
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Re: How much will last collection on credit report raise my score?


Misshopeful72 wrote:
I have a few charge offs but they were included in my bankruptcy. The collection was from 5 years ago but they just put it on my credit report in August.

A Credit Score is generated, by what is on your CR at that moment in time. 

Collections hurt a CS most in the beginning, then hurt less and less over time.

When will this CA drop off your CR?    

 

Please come back and share your score results with us, when you know.:smileywink:

FICO's Oct 2013 TU711 EQ713 EX723~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Contributor
Misshopeful72
Posts: 185
Registered: ‎03-05-2012
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Re: How much will last collection on credit report raise my score?

It's scheduled to come off in 2014. When I got my credit report from smart credit it said this collection has a high impact on my score. After this comes off I have 4 debts on my credit report that were included in my bankruptcy. I have 20 other trade lines that show never late. I'm hoping my score goes up its 542
EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico
Moderator
LIGHTNIN
Posts: 4,189
Registered: ‎03-24-2008
0

Re: How much will last collection on credit report raise my score?

Have you tried sending GW letters, to see if the CA will come off earlier?

FICO's Oct 2013 TU711 EQ713 EX723~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Super Contributor
MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
0

Re: How much will last collection on credit report raise my score?

When my one and only baddie (a collection) fell off I averages just over 50 point jump (all 3 agencies).

 

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Contributor
Misshopeful72
Posts: 185
Registered: ‎03-05-2012
0

Re: How much will last collection on credit report raise my score?

My tu fico went up 39 points. I'm almost to 600 on my credit report. This is a good feeling.
EQ 480 02/27/12- EQ 617 05/02/12
TU 500 02/27/12 TU 585 05/01/12
All scores are myfico
Regular Contributor
gettingstarted
Posts: 106
Registered: ‎07-26-2008
0

Re: How much will last collection on credit report raise my score?

Im happy for you I know that feeling after that last collection fell of my CR and I saw 735 on my FICO score I was a happy camper

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MY FICO SCORES MAY 20TH 2012: EQ 738 TU 747 EX PLUS SCORE 761
In Garden Mode Until May 15th 2013

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