Really, Equifax? I had three baddies drop from my report

[Anonymous]

Sigh. Now another baddie (old credit card charge off) and 4 small medical collections are gone. Still, no change in the score. Is Equifax for FICO 8 purposes completely ignoring both the deleted medical collections and the remaining since they were all under $100? Does the fact of having a collection matter for FICO 8, regardless of its size? I can't believe I am just stuck at 657! I hope this is not a bad sign of what my Beacon score is.

[sarge12]

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@Anonymous wrote:

Sigh. Now another baddie (old credit card charge off) and 4 small medical collections are gone. Still, no change in the score. Is Equifax for FICO 8 purposes completely ignoring both the deleted medical collections and the remaining since they were all under $100? Does the fact of having a collection matter for FICO 8, regardless of its size? I can't believe I am just stuck at 657! I hope this is not a bad sign of what my Beacon score is.

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Currently, lenders are using FICO 8, a scoring model that equally factors in paid and unpaid collection-agency accounts that exceed $100. Unpaid and paid collections under $100 are already ignored in FICO 8 scoring.

Read more: FICO Credit Score Changes – Will Yours Go Up? | Investopedia http://www.investopedia.com/articles/personal-finance/082014/fico-credit-score-changes-will-yours-go.asp#ixzz4JmA7SuYz
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[Anonymous]

Thanks - so I effectively have no collections from a FICO 8 standpoint then? I really should try to get rid of that last tiny one for mortgage purposes, I suppose. :/ I did notice when I did the CCT offer today that Equifax says it has been .4 years since I have been delinquent, which is not accurate. I have no idea why but am guessing a payment I made somehow reset the counter. I will dispute the account and hope.

[sarge12]

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@Anonymous wrote:

Thanks - so I effectively have no collections from a FICO 8 standpoint then? I really should try to get rid of that last tiny one for mortgage purposes, I suppose. :/ I did notice when I did the CCT offer today that Equifax says it has been .4 years since I have been delinquent, which is not accurate. I have no idea why but am guessing a payment I made somehow reset the counter. I will dispute the account and hope.

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I believe it can remain on report for 7 years from DOFD, but if it is a small amount they may remove for you...can't hurt to ask!

[sarge12]

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@sarge12 wrote:

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@Anonymous wrote:

Thanks - so I effectively have no collections from a FICO 8 standpoint then? I really should try to get rid of that last tiny one for mortgage purposes, I suppose. :/ I did notice when I did the CCT offer today that Equifax says it has been .4 years since I have been delinquent, which is not accurate. I have no idea why but am guessing a payment I made somehow reset the counter. I will dispute the account and hope.

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I believe it can remain on report for 7 years from DOFD, but if it is a small amount they may remove for you...can't hurt to ask!

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I need to add that simply making a payment should not reset the clock for dofd unless it was brought current. DOFD is defined as the first date of delinquency without being brought current. If you did not pay until current, clock should not reset.

[Anonymous]

My DOFD is reporting correctly. I don't know why they claim it's only been .4 years since I had negative information added. How does CCT calculate that since I didn't think it was included in my actually credit reports as one of the data points? If they are reporting that, it must have come from something on my actual report. I just have no idea what. Or if other potential creditors are viewing my report in the same way.

[sarge12]

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@Anonymous wrote:

My DOFD is reporting correctly. I don't know why they claim it's only been .4 years since I had negative information added. How does CCT calculate that since I didn't think it was included in my actually credit reports as one of the data points? If they are reporting that, it must have come from something on my actual report. I just have no idea what. Or if other potential creditors are viewing my report in the same way.

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OK, I'm having to sort of guess here because you say the dofd is correct, and in a previous post you said it inaccurately reports that last delinquent payment was 4 years ago, and state maybe a payment had reset it. Now I do not know when dofd was, but if it was say 5 years ago and then you made a single payment a year later, which would be 4 years ago. In that case the report would say dofd was 5 years ago, and last delinquent payment activity was 4 years ago. The payment made a year after dofd, though it would be a positive attempt to straighten out your credit, would still show up as last delinquent payment activity. Could this be the case here?

[sarge12]

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@Anonymous wrote:

Sigh. Now another baddie (old credit card charge off) and 4 small medical collections are gone. Still, no change in the score. Is Equifax for FICO 8 purposes completely ignoring both the deleted medical collections and the remaining since they were all under $100? Does the fact of having a collection matter for FICO 8, regardless of its size? I can't believe I am just stuck at 657! I hope this is not a bad sign of what my Beacon score is.

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You probably are stuck at 657 because you have not been re-bucketed, and are at the top of your current bucket. Once you get rebucketed to a higher bucket, your score may actually drop at first, but then start showing increases. Look up credit score bucketing on google! I had a link posted here, that was removed by a mod elswhere, so I edited this pos to remove it here also. I do not wish to run afoul of the rules.

[Anonymous]

Maybe so! I feel like I am tapping on a ceiling. On the bright side, my mortgage scores all jumped up and now are between 669 and 677. I know I need to get to 680 before even thinking about a house but not sure if I should wait for 700 or not. I really want to move somewhere less skeevy.

[Anonymous]

One thing that I know is the older your items, the less impact they have. So, something old falling off that was pretty bad won't give you that many points. The only time I've managed to get a big bump from an old baddie falling off is when CapOne charged me off, didn't send me to collections, and then updated my status as charged-off every freaking month for 7 years! That one net me 30-50 points on each bureau. The other drop-offs were pretty small.

I know that I started out with about six collections and am down to three, but I can't get my scores to budge anymore. This is because if you have any collections at all, no matter the status, you're basically screwed until they age off or if you're lucky enough to get a pay-for-delete. On the bright side, screw-ups hurt you less when you're down here, haha.

As for college loan embarrasments, well, don't feel too bad. Due to mental health issues I had when I was younger, I left college an utter freakin' disaster not once but twice and then didn't open my mail for many months at a time. Needless to say, I also rehabbed with Navient after being passed around for years.