Severe credit drop

[dcultravillain]

I know I need to update my sig but I don't know how so I'll just dive in. For fico my credit score, as of May 15, was 680... I have a ton of deliquent accounts, one credit card, discover and some utilities... anyway I applied to Paypal Smart Care and Amazon store card and got approved for 300 and 600, respectively. Today I applied to lowes and it didn't automatically approve me so I went to refresh and my credit score droopped to 650! (Experien is 632, Equifax 608) and i saw in late may I got a collections account for 51 from West Bay Acquisitions. I have several things i"m paying NOT in collections and keep constant contact with them and owe a little more than that, I don't know what it is! The website is bunk and the phone number automatically hangs up on you. That's not my problem but the drop. Why did it drop so low so fast, is it the inquiries and will paying on time help raise it back up? Just starting out guys! also I got the equifax all three reports and they say my scores I got here and Experian are much lower. What gives? Thanks!

[guiness56]

Welcome to the forums.

The scores from each CRA from this site are different models/versions, that is one reason for the differences in scores.  Even if your CRs were exactly the same and the scores were the same version, they would still be different due to the way each CRA is calculated.

Your score drop was probably due to the collections hitting your report.  They can cause big drops.

Send the CA a DV letter.

[dcultravillain]

Thanks a bunch! but what's a dv? 

[09Lexie]

DV= Debt Validation

You can find samples of letters in this sticky

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=6834

[guiness56]

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@dcultravillain wrote:

Thanks a bunch! but what's a dv? 

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DV = Debt Validation

It is best to keep it simple and to the point.  Those DVs that are a page long you will find here and on the internet are best not used.

You are have an alleged debt on my credit report, account _______.  Please validate per FDCPA 809.

[atarvuzdar]

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@guiness56 wrote:

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@dcultravillain wrote:

Thanks a bunch! but what's a dv? 

---

DV = Debt Validation

It is best to keep it simple and to the point.  Those DVs that are a page long you will find here and on the internet are best not used.

You are have an alleged debt on my credit report, account _______.  Please validate per FDCPA 809.

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+1000

Short and sweet two-sentence DV is best.