topic Re: How much will last collection on credit report raise my score? in Understanding FICO® Scoring

How much will last collection on credit report raise my score?

Anonymous — Sat, 14 Apr 2012 18:48:59 GMT

I have one recent collection coming off my report and wondered how many points my score should increase? This was the only collection on my report. I still have debts that were included in my bankruptcy on my credit. Smart credit said this collection has a high impact on my score.

Re: How much will last collection on credit report raise my score?

tcbofade — Sat, 14 Apr 2012 18:53:32 GMT

It kind of varies, so it's hard to predict...but in my case, when my only collection account was removed, my score went up 82 points.

Re: How much will last collection on credit report raise my score?

Anonymous — Sat, 14 Apr 2012 18:56:26 GMT

Holy moly I'm hoping mine jumps up that high. My score is only 542 right now.

Re: How much will last collection on credit report raise my score?

bettercreditguy1 — Sat, 14 Apr 2012 19:04:49 GMT

My fico TU score jumped 28 points when my one and only collection fell off. I was in the low 700's.

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 01:43:22 GMT

@Anonymous wrote:
Holy moly I'm hoping mine jumps up that high. My score is only 542 right now.

I'm in the same boat.. Finally got one deleted and my score didn't move at all, second one should be coming off soon, so I'm really hoping it moves this time..

Re: How much will last collection on credit report raise my score?

Booner72 — Sun, 15 Apr 2012 16:49:11 GMT

50 points, i'd wager.

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 16:57:53 GMT

Depending upon what type of collection that it is you could see a significant jump in your score had one fall off two weeks ago jumped 53 points to join the 700 club

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 16:58:23 GMT

Awesome. I hope my score goes up 50 points

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 17:09:02 GMT

I will be praying for you

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 17:39:19 GMT

Thank you. I'm really trying hard to make it into the 600's on my tu report. This is my only collection.

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 18:22:02 GMT

Do you have any charge offs on your report?

Re: How much will last collection on credit report raise my score?

LIGHTNIN — Sun, 15 Apr 2012 18:28:12 GMT

@Anonymous wrote:
I have one recent collection coming off my report and wondered how many points my score should increase? This was the only collection on my report. I still have debts that were included in my bankruptcy on my credit. Smart credit said this collection has a high impact on my score.

It depends on what you mean by "recent collection". Do you mean the debt was recent or the CA just reported it on your CR?

If I can recall, my last CA was about 6 or 7 yrs old at the time, it was deleted or dropped off my CR. I didnt see a jump in my score,so I think I was rebucketed.My score was in the mid-high 600's, then stayed the same for a year, after that it took off, now it's 742.

Only have 2 baddies left, 1 late to drop off next month and the last late will drop off early next year.

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 18:48:01 GMT

@Anonymous wrote:
Depending upon what type of collection that it is you could see a significant jump in your score had one fall off two weeks ago jumped 53 points to join the 700 club

how and why does kind of collections matter?

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 18:56:54 GMT

I have a few charge offs but they were included in my bankruptcy. The collection was from 5 years ago but they just put it on my credit report in August.

Re: How much will last collection on credit report raise my score?

LIGHTNIN — Sun, 15 Apr 2012 21:30:35 GMT

@Anonymous wrote:
I have a few charge offs but they were included in my bankruptcy. The collection was from 5 years ago but they just put it on my credit report in August.

A Credit Score is generated, by what is on your CR at that moment in time.

Collections hurt a CS most in the beginning, then hurt less and less over time.

When will this CA drop off your CR?

Please come back and share your score results with us, when you know.

Re: How much will last collection on credit report raise my score?

Anonymous — Sun, 15 Apr 2012 22:20:00 GMT

It's scheduled to come off in 2014. When I got my credit report from smart credit it said this collection has a high impact on my score. After this comes off I have 4 debts on my credit report that were included in my bankruptcy. I have 20 other trade lines that show never late. I'm hoping my score goes up its 542

Re: How much will last collection on credit report raise my score?

LIGHTNIN — Mon, 16 Apr 2012 14:41:31 GMT

Have you tried sending GW letters, to see if the CA will come off earlier?

Re: How much will last collection on credit report raise my score?

MidnightVoice — Mon, 16 Apr 2012 16:03:38 GMT

When my one and only baddie (a collection) fell off I averages just over 50 point jump (all 3 agencies).

Re: How much will last collection on credit report raise my score?

Anonymous — Wed, 18 Apr 2012 11:32:26 GMT

My tu fico went up 39 points. I'm almost to 600 on my credit report. This is a good feeling.

Re: How much will last collection on credit report raise my score?

Anonymous — Wed, 18 Apr 2012 17:29:59 GMT

Im happy for you I know that feeling after that last collection fell of my CR and I saw 735 on my FICO score I was a happy camper