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does anyone know why (credit related)

Posted by on Aug. 24, 2014 at 12:02 PM
  • 12 Replies
1 mom liked this
I had 2 collections removed from my credit report and my score dropped??
by on Aug. 24, 2014 at 12:02 PM
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Replies (1-10):
Hottmomma607
by Trica on Aug. 24, 2014 at 5:59 PM
Ummm good question? I hope negative reporting isn't considered good?
DH and have been working on on credit for over 10yrs. now. Now we just follow it to see hows it doing?
The creditors are a catch 22. You pay what you owe and you have to rally to get off. But then when you do is negative?
*edited*Are you working with credit agencies?


Quoting ayacocca: I had 2 collections removed from my credit report and my score dropped??
MANILOVE
by Bronze Member on Aug. 24, 2014 at 6:17 PM
Any recent inquiries that may affect your score. A good way to build credit is to get a secured card. Make small purchase, and pay it right away. Some bank will convert it to a regular card after a couple of months, and give you back the money that you put down.
MissTacoBell
by Taco Bell Princess on Aug. 24, 2014 at 6:22 PM
1 mom liked this
Because while it brought down your score, it also helped it (but not as much as it hurt it). You took away the bad and the good went with it.

Debt to income ratio, number of open accounts, length of time open, etc.

Talk to your bank and look at getting a secured card, it will help your score.
ayacocca
by Member on Aug. 24, 2014 at 7:02 PM
No; I just began to try boosting the score myself.. Anyway, while on credit karma a few wks ago I had 2 notifications, stating that 2 old accounts had been removed.. I was so excited.. Until it dropped. This has really thrown me lol.. I was expecting the opposite.
Do you and DH use an agency?


Quoting Hottmomma607: Ummm good question? I hope negative reporting isn't considered good?
DH and have been working on on credit for over 10yrs. now. Now we just follow it to see hows it doing?
The creditors are a catch 22. You pay what you owe and you have to rally to get off. But then when you do is negative?
*edited*Are you working with credit agencies?


Quoting ayacocca: I had 2 collections removed from my credit report and my score dropped??
Jaide2883
by Member on Aug. 25, 2014 at 9:31 AM
If they have been in collections for a while chances are they aren't being reported on every month. So for example

Went in to collections 24 months ago. Was active for 6 months and then the credit agency quit reporting every month. The "file" has been dormant for 18 months. When you made payments on those 2 accounts the "file" was reopened. And although you paid then off what happens is it shows up that those 2 accounts that have had no activity are now accounts that show as slow pay, balance 0. So instead of having 2 inactive accounts you now have 2 slow pay accounts (meaning payments were made but not on time or prior to collections) in about 90 days you should see an improvement on your credit score. However if the files were dormant for more than about 18 months you won't see much of an improvement
Antsy33
by Member on Aug. 26, 2014 at 11:56 AM

Wait a couple of months and keep checking the score. It will probably go back up but it might take 2 months.

AvantGardener
by Member on Aug. 26, 2014 at 11:56 AM

How much did it drop?

ayacocca
by Member on Aug. 26, 2014 at 12:30 PM
12 pts!!!

Quoting AvantGardener:

How much did it drop?

AvantGardener
by Member on Aug. 26, 2014 at 12:31 PM

I wouldn't worry about it. Your score could climb hundreds of points in a few months. 12 points sounds like a credit inquiry.

Quoting ayacocca: 12 pts!!!
Quoting AvantGardener:

How much did it drop?


ayacocca
by Member on Aug. 26, 2014 at 12:31 PM
Goodness I hope so..

Quoting Antsy33:

Wait a couple of months and keep checking the score. It will probably go back up but it might take 2 months.

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