Denied all in mini-app spree

[gsxraddict]

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@Anonymous wrote:

How old is the medical collection?

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Oct 2015.

$68

it's only on my equifax report, it was disputed and removed from the other two.

[arkane]

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@gsxraddict wrote:

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@Anonymous wrote:

How old is the medical collection?

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Oct 2015.

$68

it's only on my equifax report, it was disputed and removed from the other two.

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I'm flabbergasted that such an amount would actually get sent to collections. I mean surely the expenses incurred in trying to recoup that $68 would be far in excess of the amount owed?

That being said, I swear I saw a thread where one of the baddies was for a $15 or $25 medical collection, and I was just completely floored that anybody would be petty enough to send that amount to a collections agency. On the other hand, there's a part of me that goes "what?! how did that amount go to collections? You honestly telling me you don't have $15 or $25 to pay a bill"

[Anonymous]

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@arkane wrote:

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That being said, I swear I saw a thread where one of the baddies was for a $15 or $25 medical collection, and I was just completely floored that anybody would be petty enough to send that amount to a collections agency. On the other hand, there's a part of me that goes "what?! how did that amount go to collections? You honestly telling me you don't have $15 or $25 to pay a bill"

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Forever years ago I had a collection reported for $11 for a parking ticket of some kind.  I sent the village a letter demanding a statement and they send me a balance due of $-11.  I overpaid the parking ticket by $11.  Then I moved and didn't update my license address so their letters never reached me that I owed them $-11.  Then it went to collections.  So I didn't bother to validate the debt with the CA, I just sent him an ITS and told him that upon lawsuit I would sell the $11 they owed me to a debt collector I knew.

Got a check for $11, and honest-to-goodness apology by the village who ticketed me and a quick deletion.

Really wanted to sue them in court, back then I had friends in the local press and they would have LOVED to cover that story.  Ah, the good old days where computers were "new" and negative values were considered positive ones.

So, yes, $11 collections can get reported.  I once had a dentist threaten to send me to collections over a $20 invoice that I paid cash for in the office, too.  $20!

[arkane]

Absolutely insane.

[Anonymous]

I can’t see how a $68 medical collection would prevent an approval in this case. There are plenty of data points of approvals with significantly higher medical collections reporting. But I’m with the majority here. It’s absurd that that’s in collections and even more absurd that $11 was worth the effort.

[gsxraddict]

Well some good news.

Chase and Cap 1 killed my Ex and EQ reports with inquries but only hit TU once so I figured I could afford another inquiry on TU and NFCU normally pulls TU.

I applied and was instant approved for $15,000 cash rewards. 

[gsxraddict]

Just got a Discover IT for $5500. My first discover ever.

*edit called recon and they increased the limit to $7,000

[AverageJoesCredit]

Your problem is in your original post you claimed 118k income whereas in your second post you claimed 117k!. Thats a huge discrepancy especially with a bank like Chase where the 1k helps pad their executives coffee cofer

But seriosly, good scoring on Disco and Navy. Thise others may not have been instant but they arent denials either. In this day and age of fraud, some banks actually want to verify applicants which in a way isnt bad. I too find it ridiculous that $68 can be allowed to go to collection and affect ones credit so badly. But you will have the pick of the litter soon enough with your stats. Best of luck

Ps... next time just put 117.5k and all will end well

[Anonymous]

Maybe the OP was > 5/24 on the Chase apps?

Also as a side note, a collection is a collection with respect to FICO scoring.  Whether we agree with it or not, dollar amounts don't really matter.

[Anonymous]

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@Anonymous wrote:

Maybe the OP was > 5/24 on the Chase apps?

Also as a side note, a collection is a collection with respect to FICO scoring.  Whether we agree with it or not, dollar amounts don't really matter.

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To be honest, I personally do have a problem with collections reporting at all.  I know that creditor contracts we all agree to stipulate that we agree that a creditor can assign a collection agency to collect on a debt.  For me, I think the proper result would be a single original tradeline with a chargeoff status and a remark saying "assigned to outside agency" and that's that.

I take a big issue with a JDB buying a debt without proof of it and being able to report on one's credit report.  I know the law mandates the Dunning notice, but we all know how likely that is.  To me, a credit report is practically a public record that has a little bit of security keeping the private from googling your report, but in reality with all the hacks and data mining it's not that private.

I also take a big issue with people who never extended credit selling invoices owed to collection agencies for reporting.  Medical clinics?  Lol, please.  Someone needs to write a website like Yelp that reports on medical providers who ruin credit reports so we can run them out of town with pitchforks and torches.  "Oh, you work for Doctor Lucifer?  Sorry, can't be friends with you, I saw his CA Score!"