Score calculation

[Anonymous]

 I just found out that there were 4 collection accounts on my report, balances totalling about 700 bucks. Well, after inquiring 3 were actually errors and should not be there, as they werent mine. they were delected this week by collections, will thishelp my score and if so how long does it take.

[Anonymous]

Your score will update as soon as they changes are reflected on your credit report. If the accounts are already deleted your score has already changed. It is almost impossible to say how much without knowing your whole credit picture and then it would only be educated guesses based off of others experiences. Although take it from someone who is rebuilding deleting some will help a little but if you get rid of that LAST collection you will see a BIG change. When you go from having collections to no collections your FICO score gets alot higher.

[Jazzzy]

Hi, and welcome to the forums.

Part of the score impact will depend upon the ages of those collections that are dropping and upon the age of the one that is left.

The newer the collection, the more impact it has on your score. How new is the one that will be left?

[mudda]

Hi..I am not the OP...but I have a similair situation. I have gotten all my collections removed except one. The last one is scheduled to fall off in November and is a old unpaid medical bill. I need to buy a new car this June/July and am wondering if I should be trying to push up deleting this...or if it is so old that even though its last collection..its not going to have a huge impact. Any opinions?

[MarineVietVet]

---

@mudda wrote:

Hi..I am not the OP...but I have a similair situation. I have gotten all my collections removed except one. The last one is scheduled to fall off in November and is a old unpaid medical bill. I need to buy a new car this June/July and am wondering if I should be trying to push up deleting this...or if it is so old that even though its last collection..its not going to have a huge impact. Any opinions?

---

My opinion? At this point it is so old it is hurting you very little. I would just let it go away on it's own but you have to decide what is best for you.

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score