Why did I NOT regain the pts that were lost?

[Anonymous]

Hi and thank you for taking a look at my question!

Back in April I was alerted that my scores had a significant loss due to a collection that had been reported, but this account was clearly reported well after the SOL. I contacted the collection agency along with original creditor and I received an apology letter from OC informing me that this account was being removed immediately, which it had been, but once it was removed my scores had never increased/changed. How could my scores not go back up when the account was placed on my file illegally?? Is there anything that I can do about regaining the loss?

Thanks again!!

[Anonymous]

That does sound strange.  I am not an expert on derogs, so I will let other folks chime who know more about that side of things.

In the meantime, here are some questions, the answers to which could help these other folks here help you:

You mention that "Back in April I was alerted that my scores had a significant loss due to a collection that had been reported...." 

    * I am guessing you have a credit monitoring service and that you got the alert from them.  Is that right?  If so, is it the three-bureau monitoring package through myFICO?

    * Do you remember when you got the alert?  (Early April, late April?)

    * Do you know whether the collection was reported to all three credit reporting agencies (CRAs)?

It sounds like you did some work with both the creditor and the collection agency, and they finally said it had been removed.

   * When did they say it was removed?  (Roughly)

   * You do not mention speaking to the CRAs at all.  Did you ever do that?

   * Since the creditor/CA allegedly removed it, have you pulled all three credit reports (not scores but reports) to see if that has in fact happened?  If so, when did you last do that?

This last question is the most important.  Also helpful would be what your scores were before the alert and what they were after they fell a bunch.

[Anonymous]

I agree that you really need to see an updated report from each credit reporting agency. When I have had derogs removed it didn't show until I updated my account. Good luck!

[cashnocredit]

Keep in mind that MyFico does not generate alerts and associated FICO scores when a CA is removed. That doesn't mean your credit score doesn't go up but you have to have something in your reports that generate an alert to get an updated score. Make sure you set the EQ alert settings to maximum sensitivity (eg. small balane change) to increase the frequency of alerts. The other CRAs have fixed criteria and you can't adjust them.

[Anonymous]

Hi and thank you!

You mention that "Back in April I was alerted that my scores had a significant loss due to a collection that had been reported...." 

    * I am guessing you have a credit monitoring service and that you got the alert from them.  Is that right?  If so, is it the three-bureau monitoring package through myFICO?       Yes, credit monitoring thru myFico.

    * Do you remember when you got the alert?  (Early April, late April?) April 4th

    * Do you know whether the collection was reported to all three credit reporting agencies (CRAs)? Yes ALL 3

It sounds like you did some work with both the creditor and the collection agency, and they finally said it had been removed.

   * When did they say it was removed?  (Roughly) Middle of May, roughly

   * You do not mention speaking to the CRAs at all.  Did you ever do that? No, I went directly to OC and CA. Should I have contacted the CRA'S?

   * Since the creditor/CA allegedly removed it, have you pulled all three credit reports (not scores but reports) to see if that has in fact happened?  If so, when did you last do that? Yes, I just pulled them last night, but I know in the beginning of June it was off because I get a monthly report thru Capital One.

This last question is the most important.  Also helpful would be what your scores were before the alert and what they were after they fell a bunch. Mid to upper 600's

Any suggestions as to what I can to get those points back, when you're teetering 700, EVERY POINT counts! lol

[Anonymous]

So just to confirm, you have pulled all three of your credit reports in the last few days (the actual report itself, not the score) and the collection that cause your scores to take a dive is no longer there.  Is that right?

About your scores before and after: would you mind giving us the exact values?  E.g...

BEFORE THE ALERT

EQ =  ____    EX = _____      TU = _____

AFTER THE ALERT

EQ =  ____    EX = _____      TU = _____

Have you received an updated score in the last few weeks?  As one of the commenters mentioned, myFICO won't necessarily give you an updated score after the collection is removed.  But there are things you can do with your CC balances to induce myFICO to give you an update.  I suggest you talk further with the folks here about ithat.  As I mentioned, I have no recent experience with derogs or with using the myFICO monitoring.

It's quite possible that your scores are back up but you don't know it yet.

Somebody here should give you some help.  Good luck!