Myfico Score

[QueenJ]

Ok so i paid off one of my accounts, and now my score went down 7 points.  What am i doing wrong?

[Tuscani]

Was this a collection account?

If so, you made the mistake of paying without a PFD..

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/m-p/4519/message-uid/4519#...

[QueenJ]

No, it was a closed account i had a payment agreement with them and i was paying little by little.  It will be deleted, but it just posted as $0 balance.  You think it will go back up once they delete it?

Thank you

[Tuscani]

Ok.. did they update the tradeline each month you paid? What was the last balance? I suspect the DOLA may have changed which had a slight impact on your score. I wouldn't worry about it, you should recover quickly.

[QueenJ]

Yes, it was showing as paid as agreed. I do have some lates from that account from 2010.  Looking forward to it being deleted.  Thanks for the response.

[Tuscani]

Ah yep.. that explains it.. paying off caused the DOLA to update and since there are some older lates those are still impacting your score.