Collection account removed?

RiskJunkieMCD · ‎04-11-2021

My final open derog was a several year old personal loan that I defaulted on. It was opened several years ago and placed for collection about 2 years ago.

As of Friday, it's no longer on my credit report and my TransUnion (that's the only bureau it was reporting to) vantage score jumped up 30 points.

Awesome... except I don't know WHY it was removed. I haven't paid it yet (I was actually just getting ready to do that) and it hasn't aged off. Is it going to be bounced to another collection agency and reappear in a couple days? Anybody have any thoughts?

OmarGB9 · ‎04-11-2021

If it wasn't paid and just seemingly disappeared, then unfortunately, yes, it most likely got resold to another CA.

Last App: 1/10/2023
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Currently rebuilding as of 04/11/2019.

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RiskJunkieMCD · ‎04-11-2021

@OmarGB9 wrote:
If it wasn't paid and just seemingly disappeared, then unfortunately, yes, it most likely got resold to another CA.

That's what I was thinking. Is there anything I can/should do right now? Or just wait for it to reappear?

OmarGB9 · ‎04-11-2021

@RiskJunkieMCD wrote:
@OmarGB9 wrote:
If it wasn't paid and just seemingly disappeared, then unfortunately, yes, it most likely got resold to another CA.
That's what I was thinking. Is there anything I can/should do right now? Or just wait for it to reappear?

Well it wouldn't necessarily reappear right away, or possibly at all, at least not for a bit. Generally when a new CA acquires a debt, they first send out a dunning notice to inform you who they are and the amount of the debt, etc.

I suppose you could reach out to the previous CA and see if they still have the debt. Maybe they actually still own it and just deleted their collection in anticipation of selling the debt.

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:

Current FICO 8 scores:

RiskJunkieMCD · ‎04-11-2021

@OmarGB9 wrote:
@RiskJunkieMCD wrote:
@OmarGB9 wrote:
If it wasn't paid and just seemingly disappeared, then unfortunately, yes, it most likely got resold to another CA.
That's what I was thinking. Is there anything I can/should do right now? Or just wait for it to reappear?
Well it wouldn't necessarily reappear right away, or possibly at all, at least not for a bit. Generally when a new CA acquires a debt, they first send out a dunning notice to inform you who they are and the amount of the debt, etc.

I suppose you could reach out to the previous CA and see if they still have the debt. Maybe they actually still own it and just deleted their collection in anticipation of selling the debt.

Ok cool. Thanks so much for your help!

Anonymous · ‎04-11-2021

@RiskJunkieMCD also, it ages off 7 years from the delinquency on the original account, not when the collection account was opened. Is that more in line with it aging off now?

If not, I would try to tackle it before another collection agency places it back on your credit report. This is a golden window of opportunity because not all collection agencies do pay for delete arrangements. So you are running a risk the new collection account would remain even if paid or settled which would still keep your scores supressed.

I would pull all 3 credit reportd for free from Annual Credit Report. They are the most conprehensuve credit reports around and you can double check everything there to be certain it was removed.

Some collection agencies remove and replace the account to get your attention, so that is also another small possibility.

Good luck!

RiskJunkieMCD · ‎04-11-2021

@Anonymous wrote:
@RiskJunkieMCD also, it ages off 7 years from the delinquency on the original account, not when the collection account was opened. Is that more in line with it aging off now?

If not, I would try to tackle it before another collection agency places it back on your credit report. This is a golden window of opportunity because not all collection agencies do pay for delete arrangements. So you are running a risk the new collection account would remain even if paid or settled which would still keep your scores supressed.

I would pull all 3 credit reportd for free from Annual Credit Report. They are the most conprehensuve credit reports around and you can double check everything there to be certain it was removed.

Some collection agencies remove and replace the account to get your attention, so that is also another small possibility.

Good luck!

Thanks for your response! I know about the 7 year timeline, and it definitely hasn't aged off. I use a paid Experian membership to stay on top of the contents of all of my reports while I'm working my rebuilding journey.

I'm definitely going to call this week and see if I can pay it off before it gets re-reported.

Anonymous · ‎04-11-2021

^^^ exactly. Ask for an arrangement of pay-for-no-reporting so that you can handle the bill without it resurfacing on your reports. Get that agreed to and pay it and you're golden.

RiskJunkieMCD · ‎04-11-2021

@Anonymous wrote:
^^^ exactly. Ask for an arrangement of pay-for-no-reporting so that you can handle the bill without it resurfacing on your reports. Get that agreed to and pay it and you're golden.

Awesome, thanks!!