@Anonymous wrote:Hi everyone! I finally paid off my last 2 collections, and after almost filing BK a while ago, I was thrilled to have finally paid everything off. I owed $3034 to Barclay (in collections with Lloyd and McDaniel) and $848 to Discover (in collections with EIS). I paid about 2 weeks ago and today, my equifax FICO went down 24 points from 615 to 594 because of "new remarks added to accounts" and it just happened to be that discover and barclay updated today saying I missed another payment. How long until my report accurately reflects my payments? Should I call? I'm kind of freaking out. Thanks!!!
Your score didn't go down because of the remarks. It went down because there was an update to the account, which most likely means it hadn't been updated in a while and there was a recent update to it with your settlement being reported. If it is saying you missed another payment, that means that what they did is they first updated the balance to deduct the settlement you paid this cycle, and then next cycle they will update the balance to zero and finally close out the account.
