FICO score recovery after a collections account being removed

[Anonymous]

A collections account was posted on my credit report Jan/2020. It was a $80 bill. My credit score dropped by 60+ due to this negative entry. I paid the bill and checked on CK that this entry is removed. I wonder how long does it take for my credit score to recover? I don't care about the CK scores (In fact, it didn't affect the VantageScore). I care about the scores banks use for mortage. Thank you!

[thornback]

Hi & welcome to the forums!

Your FICO scores immediately respond to changes on your credit report, so if the collection has been removed, your scores have already updated and will reflect the change the next time it's pulled (either by you or your lender).   Also, since CK only provides TU & EQ reports, you should check your Experian report to confirm removal there as well.  You can do so, for free, by signing up at Experian.com. 

[Anonymous]

Thronback, thank you for the reply!

My loan agent told me my score will slowly recover and asked me to wait, which made me confused. I wonder whether there is anyone who experienced it  and can tell from their own experience.

[Jnbmom]

As @thomback stated if it is removed from all your score should bounce back almost immediately, your mortgage person must not know how scoring works .

[Anonymous]

Those are great news!

Is there any service I can query my score that my lender uses? I use CK and experian.com. And both report scores that are different from my lender. I want to avoid a lender pull since that a hard pull.

[Boss2Boss]

Myfico.com.

[AllZero]

In addtion to the above. Free mortgage scores

[Anonymous]

@Anonymous@thornbackis telling you what she’s learned from reading probably hundreds of threads of people from their own experience testing and reverse engineering and she is correct. If you’d like to read peoples personal experiences with this, search the threads and read to your hearts content, there are so many you will get tired of reading.

Now, there’s a difference between 1. paying a collection and it being updated and 2. having a collection removed.

If you pay it and it updates (but is not removed), the score will drop (assuming it was not being updated monthly) and slowly recover as described by your less than knowledgeable mortgage officer.

However if it was removed and deleted from your credit report, as described by you, then your scores should improve as soon as your CR is updated, unless you have other derogatories to hold it down.

If you have other collections or derogatories, then there may not be much improvement.

If you have Experian membership you need to click additional fico scores and go to EX2. That will be one of the three your mortgage officer will see. You can also gain them from myFico.com as indicated.