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Medical Collection deleted from my CR why is MyFico not giving me a SW and score change

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llecs
Moderator Emeritus

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change


@Cdnewmanpac wrote:

@llecs wrote:

@Cdnewmanpac wrote:
If the deleted collection was already under dispute, you may not see a score change. Fico ignores disputed items in score calculations, so you may have gotten the bump when the dispute reported.


FICO fully scores CAs and PRs while disputed. Though FICO will ignore certain aspects of OC accounts while under dispute.


I apologize if I was incorrect. That was what my loan officer told me and matched my own experiences: when eq first reported my ca account as under dispute, my score jumped 11 pts. Nothing else had changed. When that dispute was resolved by the ca deleting the account, my score didn't budge. If my loan officer was incorrect, then I, too, am curious why a deletion of a ca account has no effect on scores.


If you don't mind me asking, who was the CA? I have a theory.

Message 11 of 18
Cdnewmanpac
Established Contributor

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change

Midland Credit Management

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Message 12 of 18
llecs
Moderator Emeritus

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change

Here's a thought. All CAs, if coded correctly, are fully included in a dispute. In a few cases, there are some CAs like MCM, AFNI, and a couple of others, appear in the Accounts section of your FICO report as opposed to CAs. Not all of these are viewed as an account, but in some instances, they are miscoded to where FICO reads it as an OC vs. a CA. Your lender would know the difference obviously, but sometimes FICO cannot.

Message 13 of 18
Student_Loans_Kill
Frequent Contributor

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change


@Cdnewmanpac wrote:
..... As long as you have a judgement, you will stay in the major derogatory bucket for scoring. But that is separate from how a lender treats student loans.


The judgement was seen by loan specialist, it was interpreted as a Student Loan because it states "blank University school of medicine", just like all my other Derogatory marks, and even the same dates that correspond to a FEMA disaster.


Starting Score: 656
Current Score: 678 TU 08, 665 EQ MyFico, 698 EX PSECU
Goal Score: 7OO needed for Mortgage application


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Message 14 of 18
Cdnewmanpac
Established Contributor

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change


@llecs wrote:

Here's a thought. All CAs, if coded correctly, are fully included in a dispute. In a few cases, there are some CAs like MCM, AFNI, and a couple of others, appear in the Accounts section of your FICO report as opposed to CAs. Not all of these are viewed as an account, but in some instances, they are miscoded to where FICO reads it as an OC vs. a CA. Your lender would know the difference obviously, but sometimes FICO cannot.


That makes sense, since both tu and exp (which still show McMahon account) list zero collections, but count it as a potentially negative account. Thanks
In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Message 15 of 18
Cdnewmanpac
Established Contributor

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change


@Student_Loans_Kill wrote:

@Cdnewmanpac wrote:
..... As long as you have a judgement, you will stay in the major derogatory bucket for scoring. But that is separate from how a lender treats student loans.


The judgement was seen by loan specialist, it was interpreted as a Student Loan because it states "blank University school of medicine", just like all my other Derogatory marks, and even the same dates that correspond to a FEMA disaster.


I'm not disagreeing with you. How a lender interprets a report is DIFFERENT than how fico scores a report. So while your lender may view it as a student loan and give it less weight, any judgement, regardless of reason, is going to put you in fico's major derogatory bucket. So the person that posted that you would be rebucketed when your medical collection Deleted was wrong. If your goal is to get a mortgage, getting the collection deleted will be a huge help, even if the score doesn't move. Getting the judgement removed might get you a better interest rate, but isnt essential to getting a mortgage. But if your Goal is a 750 fico score, or a card like the sapphire or amex platinum, that probably won't happen until you get the judgement removed.
In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Message 16 of 18
thankfulheart
Established Contributor

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change

I'd certainly call and ask about the split file. Not all of the CSRs will know what it is, but keep asking until someone can answer you.  One of my shoulda-been-a-warning was a CC wasn't reporting since October.  Neither were 3 INQs from last year, so when all that hit, my score dropped.

 

And, to your OP, I had a federal tax lien drop with no SW nor was there a change in my score for it.  SW doesn't alert when things fall off, only when there is an increase in a balance or some kind of change to personal info.  I thought it would show when things fell off, too, but learned that it doesn't.  I also learned the hard way that what we may think is a significant score-draining baddie, might not really be in the scheme of things. 0 points when the lien was removed (and it had still been reporting as "unpaid")

 

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Message 17 of 18
annielorie
Valued Contributor

Re: Medical Collection deleted from my CR why is MyFico not giving me a SW and score change

retract to student loans I thought that was your last derog item on report.  Get that judgement vacated if you can try new arangements for payment if they will remove judgement  super important I forgot you went to court on this?


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

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Message 18 of 18
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