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Posts: 83
Registered: ‎01-29-2013
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Score decrease WITH settlement????????

I recently settled a baddie with Jefferson Capital Systems. Paid the settled amount on 3/1/13. My Ex. Fako was 585 this morning, just got an email from Ex.credit tracker stating a negative item posted to my report. The baddie was already on my report with an unpaid status, it updated today to "legally paid settled amount". My ex fako dropped to 574!...**bleep**?!!! Should I expect a decline in score with TU/EQ? I thought handling that bill would have increased my scores.......Help!

Starting Score: 548
Current Score: EX686EQ682,TU???
Goal Score: 760


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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Score decrease WITH settlement????????

Can't speak to FAKOs, but paying or settling a collection will never help your FICO. Usually there would be no FICO score change when paying or settling but in some cases it can drop your score if the CA hadn't updated in a while.

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