Clearing Collection accounts. What sort of improvement to expect.

[Anonymous]

All,

My wifes credit report has two collections on it. They are both newer, and valid. I will pay each over the next month.

My account has one collections account, it is from 2002, and NOT valid. It was paid IN 2002. I talked to the co that reported it (COX Cable) and they said they would work to resolve, so I hope to have that off the report next month, or October.

With these three collections cleared, what sort of bump should I expect?

Thanks
TBR

[Anonymous]

It totally varies...But, it should have significant impact.  I just had the same collections account on all my reports. I've checked 2 of my scores.  I haven't checked TransUnion yet though.  Equifax, my score jumped 19 points.  On Experian, it went up 39 points.  This was just for a $78 utility bill that I never knew I had until I saw it on my report.

With Equifax, that was the last of my negative items.  Experian, I still have one left on there.  I'm not sure if that has to do with why the changes were so different between the two or not.

Hope that helps!

[Anonymous]

It does, and thanks!

The collection accounts are ~$750.00 (me) and two ~$1,200 ~$200.00 (wife). I don't know the total makes that much difference, but if anyone has input, its welcome.

Thanks
TBR

[Anonymous]

I got a 2004 paid co (with Cox Cable) off my Equifax.  My score dropped 4 points.  Go figure.

[Anonymous]

How did you do it, Alexrodd?