topic Re: Point Gain for Deleted Collection?? in General Credit Topics

Point Gain for Deleted Collection??

Anonymous — Fri, 07 Sep 2007 16:20:16 GMT

I'm holding my breath on this one, but i'm hoping to have the following collection deleted:

Creditor Name: I C SYSTEM

Account No.: 423124XXXX

Original Creditor: MED1 02 DRS STAFFORD KLAVANS

Responsibility: Individual

Condition: Paid

Original Balance: $1729

Balance: $0

Date Opened: 02/21/2003

Date Reported: 07/21/2007

I settled it for less than the full balance back in April 2007.

How many points do you think I'll gain if they take it off?

Re: Point Gain for Deleted Collection??

Anonymous — Fri, 07 Sep 2007 16:27:29 GMT

Can I ask for how much less than the full balance did you settle it for?

Re: Point Gain for Deleted Collection??

Anonymous — Fri, 07 Sep 2007 16:29:19 GMT

Settled for $900 (original balance $1729)

Re: Point Gain for Deleted Collection??

Anonymous — Fri, 07 Sep 2007 16:30:35 GMT

Hi Heidi,

To be honest, the number of points will vary. What really stinks is FICO doesn't share how it calculates its score, so it's difficult to tell how much a score will improve.

On this board, I've seen people report between a 5 - 30 point jump for deleted collections.

I'm somewhat surprised that you didn't take a hit because of the recent activity (settling your account in April).

Re: Point Gain for Deleted Collection??

Anonymous — Fri, 07 Sep 2007 16:57:55 GMT

JennLewis wrote:
Hi Heidi,

To be honest, the number of points will vary. What really stinks is FICO doesn't share how it calculates its score, so it's difficult to tell how much a score will improve.

On this board, I've seen people report between a 5 - 30 point jump for deleted collections.

I'm somewhat surprised that you didn't take a hit because of the recent activity (settling your account in April).

Thanks Jenn. I really didn't start tracking my score until May, so I don't know how big of a hit I took. I do know, however, that i've jumped more than 100 points since May, thanks to the help and advice i've received on these boards.

I'm finally seeing a light at the end of the tunnel!!!