interesting FICO history with collections

[Anonymous]

My DH and I been members of MYFICO since 2005.  I was looking back over our ALERTS and wanted to share this

ALL EQUIFAX SCORES

04/04/2006 - 626

04/14/2006 - 624 new collections added

04/16/2006 - 613 new collections added

05/02/2006 - 632 3 inquires

05/11/2006 - 630 new collections added

I lost anywhere between 2 to 11 points for new collections

01/06/2007 1 collection removed (NCO), not even mine - gained 5 points

SO,

1 collection cost me 2 points

1 collection cost me 11 points

3 inquires cost gained me 19 points

1 collection cost me 2 points, again

MY DH REPORT

This is interesting

03/22/2006 - 1 account added for 1 dollar, 4 months past due (this was a collection from MIDLAND but they did not report it as a collection they added it as a new credit account, slick, this was a medical bill, that was paid and they reported it for 1 dollar.

This cost 24 points (I called MIDLAND and spoke with somebody in management, going to correct it, which they did and said they was sorry, it was a mistake and would be taken care of immediately. 

03/25/2006 -1 collection added decreased  33 points (Ebuisness

05/06/2006 - Midland reports to the credit bureau that the balance is 0 but still shows 4 months past due - lost 22 more points.  Called again, this was an error and they removed from the bureau

05/11/2006 - Midland removes, gained 9 points -- ok so the $1.00 balance on a medical bill (which I did not owe) takes 2 hits with Midland reporting twice for a grand total of 46 points, after the removal they give back 9 points (No rhyme and reason behind this logic).

12/27/2007 - Inquiry no change

12/30/2007 - New credit account (Discover) gain 20 points nice

12/31/2007 - New inquiry no change

01/06/2007 - Ebusiness removes collection gained 5 points. 

My DH lost lost a lot of points for collections - I assume it is the way that MIDLAND reports -  all my alerts said a new collection has been added but on his alerts  for MIDLAND it says a new account has been added (not the usual a new collection has been added). 

CONCLUSION:

So, it looks to me that on once you have a collection removed you only gain about 5 points if it is over a year and about 9 points if it within a year old.   Both my husband and I had one removed and we both gained the 5 points back.

However, I had a 30-day late removed from 07/2007 and my score increased 27 points.

Several times had inquiries that did not change score at all for either me or my husband. 

Anybody else looked back over the alerts and see the same thing with collection accounts.  

[Anonymous]

Forgot to add this

12/13 - new collection added lost 13 points.  (the hospital did not file F9 provider information with the insurance, however, after talking with hospial admnistration it was filed correctly and the entire billed was paid in full and hospital pulled the account from collection agency, however, they have yet to remove it from credit reported yet, supposed to be taking care of it this week according to upper management with CA.

I will keep you posted on how many points gained by it being removed (I sure it is only going to be 5 points, so still lost 8 points because it was reported in error anyways).

So that range would be anywhere from 2 to 13 points.

[Anonymous]

I have some interesting Collection stuff- add/delete stuff in my Scorewatch history as well-

However - it is imposible for me to try to put exact changes into point as I had other things going on-

I remember a recent CA being added in March -31 points (made a total of 3 at the time) I never saw these points come back when the CA was deleted.

You should note the "last updated" dates when trying to compare this kind of stuff (more recent the worse)

2007 was 3 steps forward and 2 steps back -

I only saw a 16 point jump when the last CA was removed-