I have a $35 collection from 2.5 years ago for My Money Monitor- a company that charges you a fee for finding money that is owed to you. I paid the $35 fee last year but the company did not delete collection from credit report. Yesterday I sent them a fax asking them to remove this from my credit reports (EQ and EX). Today I received a call informing me that they have sent the bureaus a request to delete my credit. Since this collection amount is so small, will this have any impact on my credit?
Current scores: EQ 693, EX 752, TU 727
I dont think the scoring algoirithm cares what the amount is.
The thing that matters is that it did occur.
If they remove it, it should give you a score bump. The amount of the bump depends on if this is your only derogatory item reporting.
This is the ONLY derogatory mark on my Experian report. I have one additional collection report on my EQ ($265 medical debt that has been paid for). I'm sending goodwill letters to also get that removed though probably will not be as successful.