NEED ADVISE ASAP

[dragontears]

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@Pikaboo-icu wrote:

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@Anonymous wrote:

I had 3 with them and paid one...when I did I asked if they would remove and was told there was no way.

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Is there anyway you can pay them? Even if you settle for a lesser amount?

I believe paid collections are less harmful to your score.

I think it's @gdale6 that has excellent advice & macros for medical debt..

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This is incorrect in reference to the model being discussed, paid vs unpaid collection accounts is the same on mortgage scores and FICO 8, with FICO 9 paid collections results in score increase. 

Another fun fact about collections and how they are treated differently by the scoring algorithms. Small "nuisance" collections (<$100) are ignored by FICO 8 but are fully counted by older models such as mortgage scores 

[Pikaboo-icu]

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@dragontears wrote:

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@Pikaboo-icu wrote:

---

@Anonymous wrote:

I had 3 with them and paid one...when I did I asked if they would remove and was told there was no way.

---

Is there anyway you can pay them? Even if you settle for a lesser amount?

I believe paid collections are less harmful to your score.

I think it's @gdale6 that has excellent advice & macros for medical debt..

---

This is incorrect in reference to the model being discussed, paid vs unpaid collection accounts is the same on mortgage scores and FICO 8, with FICO 9 paid collections results in score increase. 

Another fun fact about collections and how they are treated differently by the scoring algorithms. Small "nuisance" collections (<$100) are ignored by FICO 8 but are fully counted by older models such as mortgage scores 

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Thanks perhaps I'm confusing it with CC balances.. I swear I read that mortgage scores reacted to zero balances, someplace..

Who knows, maybe I dreamt it lol. I did my mortgage 20 yrs ago so not up to date on the score factors.

CHEERS

[dragontears]

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@Pikaboo-icu wrote:

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@dragontears wrote:

---

@Pikaboo-icu wrote:

---

@Anonymous wrote:

I had 3 with them and paid one...when I did I asked if they would remove and was told there was no way.

---

Is there anyway you can pay them? Even if you settle for a lesser amount?

I believe paid collections are less harmful to your score.

I think it's @gdale6 that has excellent advice & macros for medical debt..

---

This is incorrect in reference to the model being discussed, paid vs unpaid collection accounts is the same on mortgage scores and FICO 8, with FICO 9 paid collections results in score increase. 

Another fun fact about collections and how they are treated differently by the scoring algorithms. Small "nuisance" collections (<$100) are ignored by FICO 8 but are fully counted by older models such as mortgage scores 

---

Thanks perhaps I'm confusing it with CC balances.. I swear I read that mortgage scores reacted to zero balances, someplace..

Who knows, maybe I dreamt it lol. I did my mortgage 20 yrs ago so not up to date on the score factors.

CHEERS

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Absolutely on the CC balances, in general mortgage scores react positively to paying CC balances $0 as long as you don't go to AZ.

Another fun fact about difference in models, FICO 8/9 don't include charge cards in utilization, while mortgage scores do (uses the historical "high balance" as the credit limit)