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LIGHTNIN
Posts: 3,353
Registered: ‎03-24-2008
Re: (First Time Poster) I Have 3 Paid in Full Collection Accounts. Please Give Guidance on First S

‎04-24-2012 05:36 PM

Hi Shaun2012,

 

Just thought I would drop in and say Welcome to the forums.

 

FICO scoring sees a Paid CA the same as an Unpaid CA, no score change by paying the debt. But looks great on a manual review.

Agree with prior posts, with sending a  short & sweet G W letter, asking for a removal of the CA.

 

A new/recent debt with a CA can hurt a score by 80-90points. Ouch. By new/recent, I mean the DoFD of the debt was recent, not an old debt that was recently reported by a CA. Debts with CA's hurt most in the beginning, then hurt less and less as time goes on.

 

You may or may not see a score jump by having a CA deleted, it depends on how old the debt is.You may see more of a score jump , by having a recent debt deleted, older debts the jump isn't that much if any. Good Luck to you!!:smileywink:

 

FICO's Oct 2012 TU731 EQ744Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
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