point increase?

[Anonymous]

Just got a collection account that I paid off my credit.  It was paid in Sept.  Am I a being a little too hopeful that I may see a 20pt increase?

Message Edited by nfg on 11-26-2007 10:17 AM

[MidnightVoice]

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nfg wrote:

Just got a collection account that I paid off my credit.  I was paid in Sept.  I'm a being a little too hopeful that I may see a 20pt increase?

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As far as I know, paing a debt does not increase score.  It does, however, look much better on manual review

[My_dog_FICO]

Several factors:  How old, how many other baddies, are you in the upper 600 to lower 700? 

Old doesn't help you much.  Many other baddies may outweigh the change, and higher end FICO's take ALOT to move them.

If you get 20, buy something good to drink and celebrate.  If not, buy something cheap and get back to writing DV,GW, and MOVs!

[Anonymous]

I re-read my post and its not clear.  I paid off a collection account in Sept.  Today I got back the results of an investigation and that account is now off of my credit report.  Can I expect a nice pt increase?

[Anonymous]

Fako,

It's from August of this year and all 3 of my scores are hovering around 560 although I can't really figure out why.

[Anonymous]

How much your scores will increase for the deletion of a collection is anyone's guess.

And all else being equal(same other "baddies") your scores SHOULD increase somewhat. Mine did.

Please do a before/after comparison and let us know, when the time comes.