topic Re: For those with PAID Collection TL Deletes... in Rebuilding Your Credit

For those with PAID Collection TL Deletes...

SunnyDaze77 — Thu, 25 Mar 2010 15:19:13 GMT

Did you notice if your score went up or down after they removed it? I saw somewhere someone said if it's an old acct but has been paid then they would leave it alone otherwise if they delete it marks as a recent account and takes points away. Can anyone tell me if this is true and if so, how many points was taken off your CR. Thank you! =)

Re: For those with PAID Collection TL Deletes...

LIGHTNIN — Thu, 25 Mar 2010 16:04:53 GMT

Paid collections that are deleted can not be marked as a recent account...because its deleted.

Paid collections are seen the same as the unpaid collection. Now if you can get the collection

removed, most likely will see a score increase.

I think what you are talking about is not a collection but an old account with late payments.

If it is your oldest account, the lates hurt but the history helps more.

The fear is if you ask to have the lates removed, they may delete the whole thing.

Hope I answered your questions, if not try to give more info.

Re: For those with PAID Collection TL Deletes...

Anonymous — Thu, 25 Mar 2010 16:55:17 GMT

@SunnyDaze77 wrote:
Did you notice if your score went up or down after they removed it? I saw somewhere someone said if it's an old acct but has been paid then they would leave it alone otherwise if they delete it marks as a recent account and takes points away. Can anyone tell me if this is true and if so, how many points was taken off your CR. Thank you! =)

I think what you are asking is, if you pay an old collection does it make your score go down. Yes, it can because it will update to look like a recent collection and drop your score.

If you have an old collection deleted, and it was your oldest account, it can drop your score and you lose your AAoA.

Re: For those with PAID Collection TL Deletes...

SunnyDaze77 — Thu, 25 Mar 2010 17:24:35 GMT

Yes Guiness that is what I was referring to. Sorry my question was a little confusing...

So it would be best to leave a paid collection alone from 2005 on my CR? I haven't sent any GW's yet because I wanted to confirm this. I don't want this to hurt my score as I am trying to repair my credit. Thanks!

Re: For those with PAID Collection TL Deletes...

Anonymous — Thu, 25 Mar 2010 17:33:30 GMT

Correct me if I am wrong here guys (and I may well be) but wouldn't leaving a collection, paid or unpaid, on your report be far more detrimental than any hit you would take to AAoA by deleting the TL altogether?

Re: For those with PAID Collection TL Deletes...

SunnyDaze77 — Thu, 25 Mar 2010 17:39:18 GMT

That's what I was thinking but then I saw a post that stated if it's old then it can decrease your score.

I was hoping those who had these removed can tell me how old their account was and if it had decreased their scores when removed...

Re: For those with PAID Collection TL Deletes...

Anonymous — Thu, 25 Mar 2010 17:40:59 GMT

I figured that was what you were asking...probably based on my earlier GW post. I will let you know what happens when mine gets deleted. Either way, I would rather the collection (paid in this case) be gone altogether.

Re: For those with PAID Collection TL Deletes...

llecs — Thu, 25 Mar 2010 18:02:57 GMT

"Collections" has been used by some posters to describe CAs and also COs. CAs have zero impact on AAoA as they aren't calculated in the length of history for a FICO score. So, delete them all and you'll likely see a gain.

If they were COs, then removing them can negatively impact and drop a score. YMMV based on how it's reporting. More often than not, you'd see a gain with a remove of a CO.

Re: For those with PAID Collection TL Deletes...

Anonymous — Thu, 25 Mar 2010 18:12:41 GMT

llecs wrote:

"Collections" has been used by some posters to describe CAs and also COs. CAs have zero impact on AAoA as they aren't calculated in the length of history for a FICO score. So, delete them all and you'll likely see a gain.

If they were COs, then removing them can negatively impact and drop a score. YMMV based on how it's reporting. More often than not, you'd see a gain with a remove of a CO.

Exactly. And in my particular case it was a paid CA, not a CO.

Re: For those with PAID Collection TL Deletes...

Anonymous — Thu, 25 Mar 2010 18:23:04 GMT

@Anonymous wrote:
@llecs wrote:
"Collections" has been used by some posters to describe CAs and also COs. CAs have zero impact on AAoA as they aren't calculated in the length of history for a FICO score. So, delete them all and you'll likely see a gain.

If they were COs, then removing them can negatively impact and drop a score. YMMV based on how it's reporting. More often than not, you'd see a gain with a remove of a CO.

Exactly. And in my particular case it was a paid CA, not a CO.

Sorry for the misunderstanding. If you delete a paid collections you should see an increase, depending on other factors on your CR.

A CO from an OC is different. It could go either way as llecs stated.