You are most welcome. So glad to hear that things are looking up!
Starting Score: Exp 627
@notyou wrote:yep! Those are the only derogatories! They total About 7k and I just didn't want to take 7k out of savings for like a 10 point gain. I'd rather have the cash cushion but if it's a chance for a substantial gain. I'll be ok with a thinner cushion for the score bump!
thanks for the feedback!
@HowDoesThisAllWork wrote:
One more thing...
Have you looked at all three of your credit reports (from Equifax, from Experian, and from Transunion) to confirm that you have all of the Collections accounts?
And, have you verified that you do not have any other "derogatory" items (such as a charge-off or a late payment)?
Well one thing we always say around here is finances over FICO. Meaning, saving money will always be more important than worrying about scores. I mentioned above a ballpark of how many points you could *potentially* gain IF AND ONLY IF you get ALL collections removed. And even then, its not guaranteed you'll get that many points. Could be more, could be less, could be none. It's all dependent on your credit report. Everyone's file is different.
If, however, you can't get all, or even worse, any, of the collections removed even after payment, then you may not see any score bumps whatsoever.
I'm not telling you all of this to scare or discourage you, but just so you're aware of all of the possible scenarios, and maybe rethink your strategy; especially if you're considering dipping into savings to accomplish this.
Yes. For sure. That's the reason they're so old and still sitting there. Because I didn't want to put myself into another pickle not having a cushion left after paying them. 
I'll still have a descent cushion after paying them now. And after reading what was said about my file being moved to the "good" pile with no derogatorys then I guess even I'm I'm disappointed with the actual fico bump, my profile will still look a little better.
So guys, to pick your brains a bit more in terms of the suggestions to PFD all of his baddies....when you say as long as there are not any lates. What if he also had lates on his CR but the lates happened 24 months or longer ago? I guess what I am trying to figure out is if the collections are dragging down the scores, at one point would lates not factor in for his score time wise?
@IamWesty12 wrote:So guys, to pick your brains a bit more in terms of the suggestions to PFD all of his baddies....when you say as long as there are not any lates. What if he also had lates on his CR but the lates happened 24 months or longer ago? I guess what I am trying to figure out is if the collections are dragging down the scores, at one point would lates not factor in for his score time wise?
Collections are the most damaging. Lates are still damaging, but the severity depends on the late. 30 day lates lose most of their sting after 24 months. 60+ day lates really don't lose their sting until they fall off completely after 7 years.
@IamWesty12 wrote:Wow, that makes sense and explains a lot, lol! Thank you @OmarGB9 !
No problem @IamWesty12.
Honestly I wish I could bring your brains into my home to have you carefully look over my 3 CR's. I swear I think I am making progress but just small gains. I keep reading it is a marathon and be patient but my gosh, the waiting for time to pass....YIKES!
I have 3 collections on TU all saying estimated month/date of removal Oct 2022, so I am keeping the faith that once these 3 fall off I will see a big boost. That is why I was asking about the lates and their damage bc once these baddies fall off, the only stuff I have left are 30 day and a few 60 day lates but the last late was 24 months ago and the rest before them.
You are such a value to all of us so thanks again, @OmarGB9
@IamWesty12 wrote:Honestly I wish I could bring your brains into my home to have you carefully look over my 3 CR's. I swear I think I am making progress but just small gains. I keep reading it is a marathon and be patient but my gosh, the waiting for time to pass....YIKES!
I have 3 collections on TU all saying estimated month/date of removal Oct 2022, so I am keeping the faith that once these 3 fall off I will see a big boost. That is why I was asking about the lates and their damage bc once these baddies fall off, the only stuff I have left are 30 day and a few 60 day lates but the last late was 24 months ago and the rest before them.
You are such a value to all of us so thanks again, @OmarGB9
Aw thank you. I appreciate your kind words. It's my pleasure to pass along all that I've learned on here to others just starting out on their own rebuilding journey.
If you wish, you could start your own thread if you want more targeted advice as it relates to your particular situation. This way you get personalized advice and we also avoid hijacking OP's thread. 