topic Re: Adding collection from 2014 in Understanding FICO® Scoring

Adding collection from 2014

Inscorehell — Wed, 17 Oct 2018 20:10:45 GMT

If a collection account is entered today with a DOFD of 2014, is it scored like a current collection or one with some age?

Re: Adding collection from 2014

gdale6 — Wed, 07 Nov 2018 01:06:30 GMT

@Inscorehell wrote:
If a collection account is entered today with a DOFD of 2014, is it scored like a current collection or one with some age?

Status date is what Fico looks at so if it reports today it looks brand new and is scored in the worst possible light.

Re: Adding collection from 2014

2b2rich — Wed, 07 Nov 2018 19:41:11 GMT

@Inscorehell wrote:
If a collection account is entered today with a DOFD of 2014, is it scored like a current collection or one with some age?

What gdale6 said, but I will add that the only 2 things I can think of that a DOFD is used for is 1- how long before the bureaus will stop reporting the collection, and 2- how long before the SOL expires. Like gdale6 stated, the status or updated date will hurt your score the worst. A collection company will sometimes not do anything for awhile and just as your score might improve a little, they will hit it with another update and tank it again.

I think they do this to get people to pay the collection.