Collections Question

[coachb123]

Does the amount of a collection weigh how many points you lose?  For example is a $3000 collection weighed more heavily then a $300 collection?

[hoping2rebuild]

A $1.00 collection will score the same as a $15,000.00 collection

[coachb123]

What about the age?  I assume the older ones weigh less then the most recent ones?

[hoping2rebuild]

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@coachb123 wrote:

What about the age?  I assume the older ones weigh less then the most recent ones?

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The newer they are the more they hurt

[RobertEG]

I agree that as far as scoring the actual fact of a collection, a collection is a collection.

However, I am not sure that the FICO algorithm does not take into account the level of debt, either in good-standing or at any phase of delinquency, in its scoring.

Maybe someone else with more insight can provide an answer, but I would not just conclude that because a collection is scored as a collection regardless of its payment status or level of debt, that it necessarily follows that the level of debt is not material.