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We found 2 changes to your Transunion credit report.
I'm surprised it would fall that much, but it's not that surprising it would fall, if it was your only account or your oldest account. I wouldn't worry about it. You're in better shape to build now anyway. Do you have any other accounts open? Congrats on the removal, despite the point loss.
Nothing else happened?
I've never thought a collection removal can make you drop points at all, let alone 79 points.
Where are you getting theses scores? Is this a FICO based on TU or is it Vantage?
It seems odd for FICO (there would be another reason for the drop), but Vantage does weird things, imo. You don't need to stress your VS if that's the model this is based on.
That was my first thought, but I don't even think vantagescore will penalize you 79 points for a collection removal? My VS scores also went up when my collection account was removed. Not as much as my fico scores, but they still went up. I think maybe something else happened.
@Anonymous wrote:That was my first thought, but I don't even think vantagescore will penalize you 79 points for a collection removal? My VS scores also went up when my collection account was removed. Not as much as my fico scores, but they still went up. I think maybe something else happened.
Someone's VS got hammered in the SL forum after a rehab, and when they pulled their FICOs found it wasn't the case there, so I just don't trust Vantage at all (other than personal experience)
@tbque wrote:
The same thing happened to me yesterday with TU and Ascendium. My Fico 8 dropped 17 points but in my case I got an alert that the account was removed from collections and then added as a new collection. I’m in the process of consolidating my student loans that are in collection with them but Great Lakes is set to pay the collections and add the new loan on 5/23 (today).
I was going to call TU and inquiry as to why it was deleted and then added back again but think I will wait until Great Lakes pays off the collections to see what happens. Any advice?
Honestly - just wait.
I consolidated loans in August and it took until December for everything to shake out on all of the CRAs - from the reporting of the new consolidated loan to the pay offs and amounts. Keep your documentation in case you need to dispute anything, but don't stress it yet.
I would also download any information/take screenshots from your Ascendium account. Once my old account was zeroed out, I lost access - having all of that saved makes me feel better in case I do need to prove something later on.
@calyx wrote:
@tbque wrote:
The same thing happened to me yesterday with TU and Ascendium. My Fico 8 dropped 17 points but in my case I got an alert that the account was removed from collections and then added as a new collection. I’m in the process of consolidating my student loans that are in collection with them but Great Lakes is set to pay the collections and add the new loan on 5/23 (today).
I was going to call TU and inquiry as to why it was deleted and then added back again but think I will wait until Great Lakes pays off the collections to see what happens. Any advice?Honestly - just wait.
I consolidated loans in August and it took until December for everything to shake out on all of the CRAs - from the reporting of the new consolidated loan to the pay offs and amounts. Keep your documentation in case you need to dispute anything, but don't stress it yet.
I would also download any information/take screenshots from your Ascendium account. Once my old account was zeroed out, I lost access - having all of that saved makes me feel better in case I do need to prove something later on.
Thanks for the information and advice calyx. I know I don't have to tell you this but it is torture trying to have patience...I want good credit now. Lol!