I have a collection acct. from 96 and a separate 30-day past due on a CC from one-year ago that as of now is current. Do these have the same negativity on my credit score? When I pull up my score on Exp or Eq the first negative reason is the collection acct. and there is no mention of the 30 day past due from 2001. So, if the collection acct is deleted what impact will the 30-day past due have on my acct.? I have seen several posts where once the last derog. is deleted, then credit scores usually see their biggest jump...Therefore, is the 30 day past due the last derog. I am looking to delete to see that big jump? Thanks B
Hard to say exactly since the FICO score is shrouded in such mystery. However, I believe you are correct in assuming that your biggest jump will involve removal of all derogs. Then you will have to slowly build up the score by paying down balances, having a good mix of credit with few recent inquiries for credit, and showing a positive payment history over time, all of which may take much longer than the time it takes you to remove the baddies. My feeling is, once you remove the collection account, the top reason will be the 30 day late listing. -Peace, Dave
Thanks for your response, Nave. My credit scores are actually decent given these derogs: 698 (eq), 661 (exp), 724 (tu), and 668 (ELoan). My eq and ELoan scores went up 6 pts and 2 pts, respectively, when compared to last Friday and nothing in my CRs have changed. I guess the additional month of aging has caused this... In addition, I currently owe nothing on my cc's. Therefore, I just need to focus on getting the collection and 30 day past due deleted to raise my scores. I am currently disputing the collection at all 3 CRAs, so hopefully, if the collection gets deleted, then I will just need to write a really nice goodwill letter. Thanks again!
