topic Re: Score increase? in Rebuilding Your Credit

Score increase?

Journey — Thu, 19 Mar 2009 02:06:40 GMT

I have PFD both NCO and RJM. Pymts sent in and rcvd. These two accts should be dropping off soon.

End of February I started HIPAA process for 4 paid collections. These, too, should be dropped at some point in the HIPAA process.

Any idea how many points, on avg, deleted collections earn you?

I do not think any of these will affect my AAoA adversely.

I know that there's no way to tell an exact number of points, but I am just looking at my FICO goals and a timeline for purchasing a house...so I am just curious what some of you FICO experts think?

I'm at EQ 646 now...think I can make 675 or 700?

Thanks!

Re: Score increase?

Anonymous — Thu, 19 Mar 2009 02:10:38 GMT

If all these come off as expected, will you have any other collections?

Any other negatives?

Collections don't count in history, so they won't affect AAoA if reported properly.

You won't get many points for older collections being removed or removal of collections while you still have collections.

More than likely your biggest score change will come from the last one being removed.

However, you have to take into account that you may be rebucketed and there is no way to tell what they will do to your score.

Re: Score increase?

Journey — Thu, 19 Mar 2009 02:16:55 GMT

Thanks for the fast reply...but what is rebucketing? Sounds terrifying!

After these drop, I will have two collections left, one of which I am paying on and one is paid.

The 6 collections that are dropping off would have all dropped off by 12/2010 anyway...just exciting that I may be getting them off early. Hope to purchase a house in March of 2010.

Re: Score increase?

Anonymous — Thu, 19 Mar 2009 02:26:42 GMT

You can do a search on the forums for "score buckets", "rebucketing", or "buckets", etc to find more information.

If you will have other collections remaining, you will likely not be rebucketed and I wouldn't expect much as far as a score increase goes. But, really you just never know.

Re: Score increase?

Journey — Thu, 19 Mar 2009 02:48:14 GMT

Sorry about that...I thought of the search function right after I hit "post".

Thanks for the info!