@modernsurrender wrote:Some CO'd cc's still report the balance in a manner that allows it to be counted as part of your Utl. In that case you would receive, quite possibly, a significant jump in your score once the balance is reported as 0 because the amount would be deducted from your Utl.
Mine was not listed as a Collection, but in the installment accounts section. The change in utilization was trivial, previously it showed $82 due on that account. My credit limits total about $15,500 and current utilized amount is showing as $6,300. So, I can't see the change in utilization caused any jump.
So, I guess this is a point to clarify? At least if an account is not listed in collection, and it changes to paid charge off rather than unpaid charge off then it makes a difference.
By the way, I paid this off last August. Last month I found out this was still showing past due and after several calls to the OC, finally got them to change the status to what it should have been all along (paid charge off).
This was one of the accounts that I settled before finding this site. Like some of you are saying, although it says "placed for collection" it doesn't show up under collections on my report, it shows up under accounts. I don't know if that would affect my UTL% or not... Is there any way to find out?
And just to clarify, This was listed as an account, not a collection on all 3 CRAs, I get scorewatch updates through MyFico for EQ. I haven't paid to check the others yet, and probably will not until a few more things fall off. This was the only change reported on my EQ so far.
And just to clarify, This was listed as an account, not a collection on all 3 CRAs, I get scorewatch updates through MyFico for EQ. I haven't paid to check the others yet, and probably will not until a few more things fall off. This was the only change reported on my EQ so far.