credit score dropped

Anonymous · ‎09-30-2016

Im sooooo upset i get an alert today stating my score dropped, so i log on and see that it dropped 50 POINTS!!!!!! like **bleep**!! all over a 113$ collection that i had paid off months ago. im so upset, how can something so little drop your score so much?!!!!! the worst part of it all is that even if i do say ok ill pay it again itll takee months before my score goes back up to what it was. IM SO UPSET! Does anyone have any suggestions, besides disputing this on all three bureaus?

Shawndoe79 · ‎10-02-2016

Its unfortunate that this happened but anytime a collection or negative hit your report there will be dire consequences even though its been paid. The best course is to never let it go to collection status, and if it does, try and do a "pay for deletion", where as you and the collection agency agree that if you pay they will delete or never report it as a collection blah blah blah. Yes your score will recover but not as fast as it declined. Since it is paid, you should write the collection agency and ask for it to be removed, its worth a shot. Even if they agree, its no guarantee that you will recover all of your 50 points, best wishes.

Anonymous · ‎10-02-2016

@Shawndoe79 wrote:
Its unfortunate that this happened but anytime a collection or negative hit your report there will be dire consequences even though its been paid. The best course is to never let it go to collection status, and if it does, try and do a "pay for deletion", where as you and the collection agency agree that if you pay they will delete or never report it as a collection blah blah blah. Yes your score will recover but not as fast as it declined. Since it is paid, you should write the collection agency and ask for it to be removed, its worth a shot. Even if they agree, its no guarantee that you will recover all of your 50 points, best wishes.

I agree that the OP should write the collection agency and request for removal. What I don't agree with though is that should he get it removed that his score wouldn't recover the full 50 points. Why wouldn't it?

Shawndoe79 · ‎10-03-2016

@Anonymous wrote:
@Shawndoe79 wrote:
Its unfortunate that this happened but anytime a collection or negative hit your report there will be dire consequences even though its been paid. The best course is to never let it go to collection status, and if it does, try and do a "pay for deletion", where as you and the collection agency agree that if you pay they will delete or never report it as a collection blah blah blah. Yes your score will recover but not as fast as it declined. Since it is paid, you should write the collection agency and ask for it to be removed, its worth a shot. Even if they agree, its no guarantee that you will recover all of your 50 points, best wishes.
I agree that the OP should write the collection agency and request for removal. What I don't agree with though is that should he get it removed that his score wouldn't recover the full 50 points. Why wouldn't it?

Im not saying it wont eventually recover the full 50 points, but from my experience you dont get all of it back at once or you may get more, it just depends and may take time to get it back because things change in your reports by the time the issue is resolved.