I sent a goodwill letter a few weeks ago and received the below uodate on my Scorewatch today. The status went from 120+ days past due to "bad debt; placed for collections". The description now also states charge off. Are the changes going to hurt my credit score? I am hoping to get a mortgage in the next few weeks!
Account opened: 7/2005
Description: Charge off account
Account transferred or sold
Amount in H/C column is credit limit
Contact: CAP1/DAMARK INTERNATIONAL INC, PO Box 5253, Carol Stream, IL, 60197 • (800) 695-6950
Seems like it should be the same as before. I don't see any change that should hurt you.
hey there - wondering if you saw an impact to your score - positive or negative? i just had the same thing happen in the past week actually with the exact same status changes so i'd love to get some insight.
Actually, the new reporting is better. The old one had the status as 120 days past due which would not be good. The new status shows as a collection.
does that mean that a collection is preferable to a 90 or 120 day past due?