topic Re: Clearing Collection accounts. What sort of improvement to expect. in General Credit Topics

Clearing Collection accounts. What sort of improvement to expect.

Anonymous — Mon, 20 Aug 2007 15:43:28 GMT

All,

My wifes credit report has two collections on it. They are both newer, and valid. I will pay each over the next month.

My account has one collections account, it is from 2002, and NOT valid. It was paid IN 2002. I talked to the co that reported it (COX Cable) and they said they would work to resolve, so I hope to have that off the report next month, or October.

With these three collections cleared, what sort of bump should I expect?

Thanks
TBR

Re: Clearing Collection accounts. What sort of improvement to expect.

Anonymous — Mon, 20 Aug 2007 15:53:46 GMT

It totally varies...But, it should have significant impact. I just had the same collections account on all my reports. I've checked 2 of my scores. I haven't checked TransUnion yet though. Equifax, my score jumped 19 points. On Experian, it went up 39 points. This was just for a $78 utility bill that I never knew I had until I saw it on my report.

With Equifax, that was the last of my negative items. Experian, I still have one left on there. I'm not sure if that has to do with why the changes were so different between the two or not.

Hope that helps!

Re: Clearing Collection accounts. What sort of improvement to expect.

Anonymous — Mon, 20 Aug 2007 16:31:49 GMT

It does, and thanks!

The collection accounts are ~$750.00 (me) and two ~$1,200 ~$200.00 (wife). I don't know the total makes that much difference, but if anyone has input, its welcome.

Thanks
TBR

Re: Clearing Collection accounts. What sort of improvement to expect.

Anonymous — Mon, 20 Aug 2007 21:22:38 GMT

I got a 2004 paid co (with Cox Cable) off my Equifax. My score dropped 4 points. Go figure.

Re: Clearing Collection accounts. What sort of improvement to expect.

Anonymous — Mon, 20 Aug 2007 22:18:09 GMT

How did you do it, Alexrodd?