topic Re: Dream or nightmare in Rebuilding Your Credit

Dream or nightmare

mandar13077 — Thu, 20 Dec 2012 04:45:24 GMT

So I have 2 baddies left that I am working on getting removed. Well, I had a dream that they actually got removed and when it did it actually hurt my score instead of helping me. The more I started thinking about it the more my stomach dropped.

Is it possible that having 2 unpaid collections, from 2008/9, could actually hurt my score? The balances on them are less than $800.00.

Re: Dream or nightmare

Anonymous — Thu, 20 Dec 2012 04:47:02 GMT

What else is on your credit report, positive and negative, and how old are those accounts?

Re: Dream or nightmare

Anonymous — Thu, 20 Dec 2012 04:48:09 GMT

It is highly unlikely, in my opinion, that if you have these two collections REMOVED, and they are your only collections, that your scores will drop. In the UNLIKELY event that they do drop, recovery would be extremely quick imho. If you just pay them, then yes, there is a possibility that your scores could drop.

Re: Dream or nightmare

Shogun — Thu, 20 Dec 2012 05:17:16 GMT

Is there a possibility that your score would drop? Well, truth is, yes, there's always that chance. I would be happy to have it happen, bet you're wondering why? Because you will then have a clean report because you said these were your last two baddies. No matter your score, they would hold you back at some point. A clean healthy report will grow fast and look and feel great.

Re: Dream or nightmare

sphinx313 — Thu, 20 Dec 2012 06:01:16 GMT

+1 Shogun get those baddies out of there. Regardless of what they do to your score now, there are lenders that won't give you anything regardless of your credit score if you have negatives reporting. The less bad information on there the better, regardless of the score.

Re: Dream or nightmare

mandar13077 — Thu, 20 Dec 2012 20:34:53 GMT

When I started this journey I had NO clue as to what was on my CBR. When I found this awesome site I knew that I was where I needed to get myself in shape.

TU - 644 - 9/30/12 - 5 Baddies
EQ - 622 - 9/30/12 - 7 Baddies

EX - ?? - 9/30/12 - 5 Baddies

UTI - 63%

Currently:

TransUnion - 693 - 11/30/12 - 2 Baddies
Equifax - 681 - 12/17/12 - 2 Baddies

UTI 43%

I know my score should increase as soon as I pay down my UTI. I got a 0% offer for 12 months that was to hard to resist at that time. I guess I agree that having a low score with no baddies is better than a higher score with baddies.

Re: Dream or nightmare

mmmlive1999 — Fri, 21 Dec 2012 03:33:18 GMT

+1 Right now I am doing the same thing, small score drop now =big gains later!!!