cancel
Showing results for 
Search instead for 
Did you mean: 

Age of Collection on Credit Report and the Impact on Credit Score

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Established Member

Age of Collection on Credit Report and the Impact on Credit Score

Good morning All!

 

I have a medical collection on my report from 2016, I believe, in the amount of $242. I am trying to decide whether or not to offer a PFD. I know collections stay on your report for 7 years, but I know after a certain amount of time the collection no longer affects your scores. Does anyone know what kind of timeframe this collection will no longer affect my scores, and should I request to settle the account for less and ask for a PFD?

 

Thank you! 


Starting Score: EQ 551 TU 607 EX 617
Current Score: EQ 610 TU 624 EX 649
Goal Score: 750 Across the board


Take the myFICO Fitness Challenge
Message 1 of 2
1 REPLY 1
Community Leader
Mega Contributor

Re: Age of Collection on Credit Report and the Impact on Credit Score


@R_M wrote:

Good morning All!

 

I have a medical collection on my report from 2016, I believe, in the amount of $242. I am trying to decide whether or not to offer a PFD. I know collections stay on your report for 7 years, but I know after a certain amount of time the collection no longer affects your scores. Does anyone know what kind of timeframe this collection will no longer affect my scores, and should I request to settle the account for less and ask for a PFD?

 

Thank you! 


Fico 8  and all older scoring models wise , medical collection in that amount will affect your scores entire time it's present, so 7 years. 

Ask for PFD and pay it, especially if that's your only remaining unpaid negative. 

 

Fico 9 will "ignore" paid medical collections for scoring purposes. 

EX 754 EQ 774 TU 752


Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.