@katrinalbsn wrote:I have about 8 medical collections that are about to be deleted from my credit report. The only think I will have that is negative after that are 3 unpaid collections, and 3 other medical collections. Taking a while guess, what do you all think my score will do once they fall off? And by how many points.
I have 3 credit cards reporting and my utilization is 1%.
Congrats katrina, that's awesome news!
Scorewise though, probably minimal unfortunately. Maybe 5 points would be my guess. Going from 14 -> 6 is a huge win from a file perspective, but derogatories of any type are calculated on a step function in that each additional one hurts you less the more you have of them.
To give you an example from Beacon 5.0, I got a brand spanking new Notice of Federal Tax Lien tacked onto my report, and I lost 5 points. Talk about absurdly trivial point drop, but I had a Cali state tax lien on there already but if I'd been clean it would've been a much harsher penalty. Likewise when it came off, I gained about the same number of points, not a big deal in either direction, and that will likely occur for you on your file.
We generally don't see major jumps until the last issue comes off... I'm absolutely confident when my tax lien comes off in 11/2017 I'll be gold plated, and it's possible I might even break 800 on a FICO 8 score but that sort of depends on how the mortgage plays, worst case I'll be around 780 at my guess, and it'll be difficult for me to break 750 without that even if the mortgage doesn't hurt me.
