topic Re: deleted collection dropped score in General Credit Topics

deleted collection dropped score

tinkytoo — Thu, 22 Oct 2009 13:49:53 GMT

good morning evryone

could someone please help me to understand how my score dropped. I had two charged off credit cards with balances that was factoring in my utlization. I tried a pfd but no go I then settled with these two accts no balance is 0, also I paid a collection 520.00 in exchange for a delete, they deleted the acct which im happy about however with these two thing reported my score dropped 7 points my scores are pitiful so every point count in my rebuilding. Im starting to get discouraged it seems that once I started to rebuild I take two steps forward and is pulled two steps backwards. please some advise could help. Also this collection is fairly new reported in feb 2008

Re: deleted collection dropped score

FicoScore626 — Thu, 22 Oct 2009 14:10:35 GMT

I'm still a newbie at this but I'm wondering if the deletion of both accounts de-aged your average age of accounts and as a result, lowered your credit score?

Re: deleted collection dropped score

llecs — Thu, 22 Oct 2009 14:14:45 GMT

Locking this thread to direct others to your thread here:

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&message.id=86657#M86657