topic Re: Collections Update in Rebuilding Your Credit

Collections Update

creditstalker — Wed, 03 Jun 2015 03:50:03 GMT

I will have 4 collections accounts from 2014 removed from my report. I will only have 2 paid collection and a paid charge off that will remain.

I have a total of 25 accounts that are reporting no late payments, and 6 accounts that have late payments.

I hope to get 30 points or more by the collections that will be removed.

Current Scores
TU 648
EQ 624
EX 602

Re: Collections Update

Anonymous — Wed, 03 Jun 2015 05:05:11 GMT

Good job !!!! If those last three derogs are not recent, I'm sure you'll see a substantial boost. Congrats !!

Re: Collections Update

RobertEG — Wed, 03 Jun 2015 06:39:54 GMT

That may bea bit optimistic.

FICO bases its scoring in various categories by certain overall categorizations. This is often called score bucketing.

Under payment history, you remain in a less favrorable scoring bucket if you have any remaining major derogs.

You normally dont see significant increases in payment history until you become clean of major derogs.

Since you have several remaining major dertogs, the score inclrease may be less than hope.

Regarldless, you will soon find out......