I disputed a collection account a month ago and it was verified. Date Reported shows 3/03. Does this affect my credit score at all than what it was previously doing? I mean which was is counted in FICO calculation? Date Reported or Delinquency Date? Thanks!
For collection records, FICO goes by the DOLA. Equifax did a similar "verification" for my paid collection recently, and the five date fields for my collection record went from: Date Reported: 02/2002 Balance Date: 02/2002 Last Activity: 10/2000 Date Assigned: 02/2001 Status Date: 02/2002 ...to: Date Reported: 03/2003 Balance Date: 03/2003 Last Activity: 10/2000 Date Assigned: 02/2001 Status Date: 03/2003 ...and my Beacon score pretty much reverted back to its pre-dispute level. Not only that, but one of the top positive factors behind my score was still "The time since your most recent past due payment is old or unknown." In other words, my score didn't tank because of the updated Date Reported. Such was the case for a collection record...I'm not so sure how it would've worked out with a judgement or a tax lien. wajaba
Great info. Wajabe. "The time since your most recent past due payment is old or unknown." It confirms our suspicion that FICO [also] works from DLA, not date of delinquency. But it also confirms that making a payment DOES/CAN change the DLA. Well ... if the 7 year obsolescence period is measured from the DLA, and making a payment DOES/CAN move the DLA forward, guess what. Do the math.
Re: Re: DOLA vs. Date Reported Good point, I didn't even catch that. For some reason, I just always assumed that the statement was referring to the date of delinquency. But looking at it now, yeah, I can see where the timing of payments can definitely come into play. Congrats on 3500 posts, btw wajaba
