paid collection account and score dropped
Date: Mon, 07/21/2008 - 17:50
I just paid a collection account from american express that was a corporate credit card which I guaranteed (big mistake). After I paid it of my score actually went down :( I would really appreciate any advice as to how i can now raise my score.
Geez I don't know, I have never heard of that happening. Someon
Geez I don't know, I have never heard of that happening. Someone will be along shortly to advise you further. Just out of curiosity how old was the collection account?
it is two years old it says on the report but i dont think i eve
it is two years old it says on the report but i dont think i even had the card that long
A paid collection is no better, worse sometimes, than an unpaid.
A paid collection is no better, worse sometimes, than an unpaid. Likely, by paying on the account, the tradeline was updated with new info. FICO will always factor in recent activity on a derogatory negativley.
check again in 3 months and see if it has come up at all
check again in 3 months and see if it has come up at all
unfortunately time is sometimes all that will work. Frustrating
unfortunately time is sometimes all that will work. Frustrating, but the score will go up.
nascar thanks for the links but what am i asupposed to do with t
nascar thanks for the links but what am i asupposed to do with them?
Those are part of my signature so appear on every post. If you'
Those are part of my signature so appear on every post. If you're in TX, their very important.
jst checking in to see if anyone has some new advice..........
jst checking in to see if anyone has some new advice..........
Only time and good payment history will boost your score. Do yo
Only time and good payment history will boost your score. Do you have any other derogatories on your CR's? Do you have any good TL's? What types of credit do you have? Revolving, Auto, mortgage...etc?