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04-15-2012 11:28 AM
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.
04-15-2012 11:48 AM
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?
04-15-2012 11:56 AM
04-15-2012 02:30 PM
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.
04-15-2012 03:20 PM
04-16-2012 07:41 AM
Have you tried sending GW letters, to see if the CA will come off earlier?
04-16-2012 09:03 AM
When my one and only baddie (a collection) fell off I averages just over 50 point jump (all 3 agencies).
04-18-2012 04:32 AM
04-18-2012 10:29 AM
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