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Massive score drop with only positive changes

Community Leader
Super Contributor

Re: Massive score drop with only positive changes

When was the last time you got a full 3B report from myFICO Ultimate (with roughly two dozen FICO scores)?

Message 11 of 19
Established Contributor

Re: Massive score drop with only positive changes

You need your mortgage scores. MyFICO is the best resource for those for all three bureaus. CreditCkeckTotal.com will give you all 3 FICO8 scores (but not FICO mortgage scores) for a $1 / 7-day trial.

You can purchase a one-time report from myFICO - just make sure it's the one that includes your mortgage scores (I think it's the Ultimate 3B but I'm not positive - you'll need to confirm that).
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Starting Score:   09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current Score:  11/08/2018: EX 782 ✦ EQ 785 ✦ TU 769 (missing account)
Goal Score:   800's


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Message 12 of 19
New Member

Re: Massive score drop with only positive changes

I have only one 3B report from 11/21 when I started the account. 

Message 13 of 19
Community Leader
Super Contributor

Re: Massive score drop with only positive changes

Looks like you edited your last post to answer both my questions.  The $40 subscription gets you the full 3B report every 30 days.  So add 30 days to the date you last got your report and that is when you will get the next one (which will include your mortgage scores).

Message 14 of 19
Community Leader
Super Contributor

Re: Massive score drop with only positive changes

As other commenters have mentioned you can purchase an additional 3B report for $60 which will be based on whatever data is in your reports at the moment you buy it.

 

https://www1.myfico.com/products/fico-scores-one-time-credit-reports

Message 15 of 19
Frequent Contributor

Re: Massive score drop with only positive changes

As far as I can remember, paying off collections does not absolve the derogatory ding from their existence.

This is one of the flaws of credit scoring. It only is designed to determine worst case scenario risk evaluation. So, it's not designed to reward coming back from the depths of debt.

It can only take into account whether or not you have a collection showing up on your reports... regardless of whether it is paid.

Which is why you have a whole community of consumers that try to offer advice on how to set up, "pay for delete," settlements; or dispute information, based on technicalities... so that items that hurt your score get stricken from your reports, in total.

Unfortunately, you've just learned that paying off a collection not only doesn't help, but it strengthens its grip on veracity; because, victims don't pay off debts that they didn't owe. They dispute them.

This is essentially the first rule of credit repair. Don't pay derogatory items, without first figuring out how to get them off of your reports. It's so counter-intuitive to common sense, but it's how to take control of your financial history.

A costly and time-consuming lesson you have just learned.

Now, there are practical reasons why one must settle debts... usually to obtain a large loan, or to get a job, or to obtain a security clearance; which requires no outstanding debt.

Regardless, credit scoring is largely designed to ignore any johnny come lately payments, to satisfy old debts. Which is tough, because people want to be rewarded for catching up... or for just having the commitment to satisfy their obligations.
Message 16 of 19
New Member

Re: Massive score drop with only positive changes

I was unemployed for a long time and unemployment gave me the run around, since I got back to work full time I have been working on repaired the damage. I sent pay fro delete letters to each of the collections I paid off and no one would accept them. Maybe I should have sent a second one

Message 17 of 19
Valued Contributor

Re: Massive score drop with only positive changes


@markmerr73 wrote:

I was unemployed for a long time and unemployment gave me the run around, since I got back to work full time I have been working on repaired the damage. I sent pay fro delete letters to each of the collections I paid off and no one would accept them. Maybe I should have sent a second one


Welcome @markmerr73!  Absolutley you can send the PFD letters multiple times.  I have seen many people, including myself get collections that were paid deleted after multiple attempts.  My theory is the worst that can happen is they keep saying no.  But that one time, you may just get the right person willing to help you out.  It is worth it for the help it does for your credit.  

 

On your scores, all may not be lost just yet until you get the updated Ficos and see what they are.  Then you can better evaluate from there.

                                 

Total Credit: $218,900Credit Utilization: 1%AAoA: 5 years, 5 monthsInstallments: Car Lease, Marcus LoanNegatives: 0


                                                                                              
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Message 18 of 19
Super Contributor

Re: Massive score drop with only positive changes


@markmerr73 wrote:

From Credit Wise on my Cap1 card. I have MYFico but it has not updated yet, also credit Karma


Others have already commented on this, but your CW and CK scores are meaningless.  Unless you FICO scores dropped 81 points, I wouldn't be concerned. 

Message 19 of 19