Collections gone?

[Jordan515]

Firstly, I want to thank the members of this community because it's an excellent source of information and everybody is super helpful and friendly.  I really don't know what my FICO score was when I set out to improve my credit aside from my fako Equifax score I pulled from Quizzle was 598.  I got curious and pulled my Equifax from here today (roughly 1 year later) and it's 728 which I believe isn't too bad?

Anyway, so last I looked which was nearly a year ago I had 4 accounts in collections listed on my Equifax.  They are no longer there...  They range from around 3-4 years since they were sent to collections.  Surely they can't be gone right?

Also, I was considering refinancing my vehicle.  Reason being primarily for convenience.  I bank with bank A and have my auto loan with bank B.  It's setup for auto withdrawal but I'm pretty forgetful and I'm afraid one of these days I won't have enough funds in my account and I'll miss a payment.  What should I be looking for when refinancing?

As always, thanks!  You guys rock!

[takeshi74]

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@Jordan515 wrote:

Also, I was considering refinancing my vehicle.  Reason being primarily for convenience.  I bank with bank A and have my auto loan with bank B.  It's setup for auto withdrawal but I'm pretty forgetful and I'm afraid one of these days I won't have enough funds in my account and I'll miss a payment.  What should I be looking for when refinancing?

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How will refinancing help you to avoid insufficient funds?  If you don't have the money you don't have the money.  Interest rates are definitely what you should be looking at.

[RobertEG]

Collections can be removed from your credit report two different ways.

First is if the debt collector simply reports its deletion.  It is gone from your credit file.

Second is if the collection becomes excluded due to aging past 7 years plus 180 days from the DOFD on the OC account.

Those are not deleted from your credit file, but excluded from further showing by the CRA in any credit report they issue.

The first would apply to your situation.  The debt collector reported its deletion to the CRA.

Their credit reporting agreement requires them to delete their collection if their collection authorty is terminated and the debt is unpaid.

If they dont own the debt, either they or the OC terminated their agreement.

If they owned the debt and sold it, they can no longer collect.

If the debt remains unpaid, someone out there can still attempt to collect, and you may well be contacted by or see reporting by a new debt collector.