Moderator Emeritus
Posts: 14,654
Registered: ‎12-30-2011
Re: Paying off collection effect on score

Just to toss it out there as it's not fully on topic; however, while FICO doesn't care whether the collection is paid or not, lender underwriting absolutely does.


FICO is just one part of the equation for getting an approval, and it's meaningless in and of itself without a lender pulling it (OK rental / other silly inquiries not withstanding), and since all lenders will send the application through underwriting, it's to your direct benefit to pay it off as it'll allow you to make more successful use of your FICO score.  Putting lipstick on the pig (in my case at least, YMMV) is about more than just scores.



Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 693, EQ 8 714, TU 8 710, EX 8 724 (05/27/16)
Goal Score: 700 on EQ 04 (01/01/17)

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