topic Re: Collection age? in General Credit Topics

Collection age?

Anonymous — Thu, 06 Dec 2007 15:44:04 GMT

How are collections aged?

In the "What's hurting your FICO score" my TU report says that my most recent collection occured 1 year ago. But when it describes my collection further down here is what it lists...

Collection agency Asset Accept
Original balance $4,674
Current balance $3,367
Status Not Reported
Date assigned Dec 08, 2005
Date reported Nov 01, 2007
Original lender First Usa
Account number XXXX
Account holder Individual

This report was pulled in November. I guess it's not considered two years old till this month?

Another question, how is it determined when CAs fall off? DOFD of original account?

Re: Collection age?

Anonymous — Fri, 07 Dec 2007 00:13:18 GMT

bump

Re: Collection age?

Anonymous — Fri, 07 Dec 2007 01:49:11 GMT

rebuilder wrote:
How are collections aged?
In the "What's hurting your FICO score" my TU report says that my most recent collection occured 1 year ago. But when it describes my collection further down here is what it lists...
Collection agency Asset Accept
Original balance $4,674
Current balance $3,367
Status Not Reported
Date assigned Dec 08, 2005
Date reported Nov 01, 2007
Original lender First Usa
Account number XXXX
Account holder Individual
This report was pulled in November. I guess it's not considered two years old till this month?

Another question, how is it determined when CAs fall off? DOFD of original account?

date reported & date assigned does nothing to change drop date (CRTP) Drop date is set by the OC. This is why it is so important to keep all old CRs.(DOFD or DOLA)

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=8713