topic Re: 3 pathetic points for a collection dropping off! in Understanding FICO® Scoring

3 pathetic points for a collection dropping off!

Anonymous — Mon, 03 Mar 2008 16:49:55 GMT

I paid of an old small collection ..now my TU shows no collections, no lates ..(I do have an old IRS still hanging on though)

With great excitement I paid for my fico score.. 3 point raise ..3 MISERABLE LITTLE POINTS !!

I should have saved the money I spent paying it off and the money spent on my score!!

How do folks get 40 points 20 points etc ..why does it never happen to me??

665 last week now 668!

Re: 3 pathetic points for a collection dropping off!

Anonymous — Mon, 03 Mar 2008 17:23:22 GMT

CRASMAKEMEPUKE wrote:
I paid of an old small collection ..now my TU shows no collections, no lates ..(I do have an old IRS still hanging on though)
With great excitement I paid for my fico score.. 3 point raise ..3 MISERABLE LITTLE POINTS !!
I should have saved the money I spent paying it off and the money spent on my score!!
How do folks get 40 points 20 points etc ..why does it never happen to me??

665 last week now 668!

Happened to me too. Got 3 lousy points when my only CA dropped of of EQ. A couple of months later when it dropped off of EX, I got 6 points for that one.

Bottom line is that by the time a CA is old enough to drop off, it's not really hurting that much anyway. Look at the bright side; at least your report looks cleaner on manual review now.

Re: 3 pathetic points for a collection dropping off!

Junejer — Mon, 03 Mar 2008 17:52:37 GMT

You have to remember that you still have that PR from the IRS on there. That's probably a big reason why the score jump wasn't so great. People tend to see higher score increases from CAs and PRs falling off when it's the last one. I personally only got 8 points on EX when a CA hit my report and dropped off the following month.

Re: 3 pathetic points for a collection dropping off!

Anonymous — Tue, 04 Mar 2008 02:23:46 GMT

Thanks ... I figured it had to do with that (that's the only thing it could be)

Bad thing is when my IRS stuff comes of they will rebucket me and ding me again ..

Does anyone know how many points for an old irs pr falling off?

Thanks

Re: 3 pathetic points for a collection dropping off!

Anonymous — Tue, 04 Mar 2008 04:24:02 GMT

-100 points to + 100 points-

I have more to do with how your risk factors compare to other with and then without a PR.

Sorry I could not be more accurate- 200 point range should cover it.

CRASMAKEMEPUKE wrote:

Thanks ... I figured it had to do with that (that's the only thing it could be)

Bad thing is when my IRS stuff comes of they will rebucket me and ding me again ..

Does anyone know how many points for an old irs pr falling off?

Thanks

Re: 3 pathetic points for a collection dropping off!

Anonymous — Thu, 06 Mar 2008 22:00:24 GMT

Thanks...I think

Re: 3 pathetic points for a collection dropping off!

Anonymous — Sat, 08 Mar 2008 15:38:24 GMT

@Junejer wrote:
You have to remember that you still have that PR from the IRS on there. That's probably a big reason why the score jump wasn't so great. People tend to see higher score increases from CAs and PRs falling off when it's the last one. I personally only got 8 points on EX when a CA hit my report and dropped off the following month.

Hmm, not sure if it always works like that. My Paid Lien fell off (a month early I might add!) and my score dropped 14 or so points. I think the *last* PR is the one that rebuckets you.

Re: 3 pathetic points for a collection dropping off!

Anonymous — Sat, 08 Mar 2008 15:39:15 GMT

@Anonymous wrote:
Thanks ... I figured it had to do with that (that's the only thing it could be)
Bad thing is when my IRS stuff comes of they will rebucket me and ding me again ..
Does anyone know how many points for an old irs pr falling off?
Thanks

As I posted elsewhere in this thread, my paid lien dropped of this month, the last PR. I dropped 16 points.

Re: 3 pathetic points for a collection dropping off!

Anonymous — Sun, 09 Mar 2008 02:24:54 GMT

16 points down...crazy ... I guess look on the bright side it could have been down 100!

Re: 3 pathetic points for a collection dropping off!

Anonymous — Sun, 09 Mar 2008 20:37:03 GMT

Unless a collection is the most recent, you'll get scant love from FICO for it falling off or being removed.

By the time a collection has aged seven years, it's really not doing all that much to hurt your credit. Time really does heal FICO wounds. Don't neglect the up-side of your credit report: make sure you have positive lines of credit (credit cards, installment loans, etc.) that are paid on time, with low balances. Too many people focus on that old charge-off or late, yet do nothing to build GOOD credit...