Is it possible to have scores in the 700s with a collection account?

[Anonymous]

Just out of curiosity, is it possible to raise scores into the 700s if you have a paid collection?  Is anyone out there an example of this?  I am scheduled to have a bunch of stuff drop off of  my report in two years, but one little account got away from me, and hit as a collections account just last summer.  Will I be doomed to the 600 club for another 6 years, or can I actually reach the 700s regardless of this collection?  I am trying to GW, but I'm just wondering what will happen if it stays on my report.

Additional info:  All scores are right around 600 currently, and most baddies resulted from either a rough patch of unemployment in 2003, or my divorce last summer.  Everything has been PERFECT for the last 10 months, including utility.

Thanks for your input!

[Anonymous]

On 4/30 before my one and only collection was removed my scores were:

TU: 713, EX: 697, EQ: 679

Granted it was a 6.5 year old collection so I'm not sure how a NEW collection would change the scoring.

[MidnightVoice]

DW and I had one collection, our only baddie, and scores were in the low 700s (except EX for me)

[marty56]

I have a 120 day late that is almost 3 years old.  It has been said that a 120 day late is as bad as a collection.  I dont know if that is true or not.

[Anonymous]

IMO-

You will get a little bump at 12 months and a few points per month until you hit the 2 year clean mark-

At 2 years clean (payment history) and aging of the CA it IS possible to get into the 700's -

[Anonymous]

Thank you all- that really encourages me.  After working so hard on my credit and seeing only a 30 point raise in 4 months, it can start to feel pretty discouraging.  So you all have given me some motivation again, and I appreciate it greatly.

[Anonymous]

heather,

30 points is a great start! If you are in the position to PIF your accounts and show only a small balance on less than half of your accounts (including installment) you will be in great shape after 2 years of clean history You should be able to obtain accounts on your terms and not a subprime lenders.

[Anonymous]

hello, I have 5 paid collection, 1 paid judgement , 1 unpaid collection,  a 6 yr old charge 0ff all  on my report my Ficos  698, 708,696 started out 490 last june