Paid collections on credit report

[moosemoney]

I started this month with three collections on my report - two unpaid and one paid.

One of the unpaid I successfully did a PFD, and it is now deleted from my report.

The other unpaid I used Collection Shield 360 and they were able to get it removed from my credit report (as of today).

The only remaining collection account I have is a paid ERC from September 2012. I settled for less than owed in early 2015 I believe.

Will that one remaining collection account effect my FICO scores a ton? I've read conflicting stories so I'm not sure what to expect when I get my July 1st scores. It's with ERC and they are notorious in being stubborn about staying on your report, so I'll probably just wait it out, but I am curious as to the amount of damage they are doing.

Thanks!

[Anonymous]

What was the original amount of the remaining collection (not the amount you settled for)?  If the original amount was for < $99, then it will have zero affect on your FICO 8 score.

Paid collections have zero effect on FICO 9, but the fact that it was not paid in full may mean that it continues to have full impact in FICO 9.  Perhaps someone more knowledgeable about FICO 9 can comment?  This Forbes piece mentions that FICO 9 ignores collections that are paid "in full":

https://www.forbes.com/sites/robertberger/2016/08/28/fico-9-what-you-need-to-know-about-the-latest-c...

Was the collection for a medical bill?  If so, FICO 9 will levy a softer penalty even it is not paid in full.

The mortage models will penalize you in full until that paid collection falls of your report.

[moosemoney]

It was $315 for an old cable bill. 

My scores on July 1st jumped 12-15 points on TU and EX with that collection still showing, but I was able to get my EQ score and it is ~35 points higher. My EQ does not show that last remaining collection, so now I know how much it is holding me back.

Time to really get working hard to have it removed! It ages off in September 2019 but patience is not my strongsuit lol