Credit Card Center Advertiser Disclosure

Regular Contributor
Posts: 205
Registered: ‎08-22-2013
0 Kudos

Question on what is hurting more. Paid CO or oldish collections

So my own credit report now just needs age as I believe I've done the work I can to get old stuff off and I'm tackling paid items on my Husband's credit report  (the fradulent Chase/collection agency settlement is another story and I'm aiming to start tackling that after the new year with a law suit - Only reason for waiting is because there are two accounts and I want the other account PIF before I move forward). 


At any rate, there are 3 paid collections concerning essentially 1 medical billing account with 1 company who is really backwater. Date's of these are 1-2009 & 1-2010 according to EQ. They were paid 9-2013 so they show recent activity. We have 2-3 years left of this being on the credit report and then we are through with these idiots. 


There is also a chargeoff with webbank/DFS DOFD is 8-2011 with payment being 2-1-2013. Once it updated as paid it showed the CO notation from 12-2011 to 2-2013 (even though they admitted it was PIF as of the first of feb). My feeling is that the Dell CO is hurting the most and shows he has had a recent late due to how CO report. Is my presumption correct? The account was opened in 2007 and in the time since it was paid, webbank has allowed him to open up another account and is very happy with our business thus far. So they certainly are forgiving but haven't budged on cleaning up the reporting of this old account. Oh well! 


In other's experience when does the age of the old paid CO account start to favor more heavily as compared to the fact that it is a CO? I have a feeling when all the bad stuff is gone and dropped we might see a dip then rise again due to rebucketing. 


My feeling is that the Collection isn't hurting much anymore in his overall profile compared to the DFS account. Thoughts? 

Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0 Kudos

Re: Question on what is hurting more. Paid CO or oldish collections

COs and collections both fall into the major derogatory category.


Since the collections are older and the CO is only 2 years old it is impacting your score a little more.


They both lose impact with time but both will still hurt until they are removed.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.