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Payment Plan with Collection Agent and tanking of credit score

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Tpelc23
Regular Contributor

Payment Plan with Collection Agent and tanking of credit score

I had a hospital bill on my credit report and I set up payment plan as it was to large to pay all at one time. Well collection agency post every month up this month the first month after my payment my score dropped 50 points...Anything  I can do?

2/28/12 -TU FICO 646 3/28/12 TU-FICO 647 4/19/20 TU-662,
2/28/12 - EQ FICO 557 3/14/12- EQ FICO 600 3/16/12 EQ FICO 623, EQ FICO 628, 7/2/12 662
2/20/12 - EXP FAKO 620 3/16/12 FAKO 631 FAKO 643 3/28/12 655 (MTG pull) 5/7/12 698

CURRENT GOAL MID 640 LONGTERM 700 CLUBSmiley Happy
Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: Payment Plan with Collection Agent and tanking of credit score

Not much.

Technically, they have a legal obligation to update their reporting so as to maintain its accuracy. 

 

Message 2 of 3
Booner72
Senior Contributor

Re: Payment Plan with Collection Agent and tanking of credit score

Try to change your payment plan to include deletion after full payment.  Beg, plead, ask nicely....whatever it takes......

 

Even if they do update every month, it won't change your score.  I had a few collections that updated monthly.  It doesn't change the DOFD.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 3 of 3
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