Saw a post on here with a graph of the impact of a single 30/60/90 day late payment over time on this forum a while back
Anyone have a link to a graph depicting the impact of a single unpaid collection on an otherwise clean scorecard over time?
Starting Score:FICO8s 505ex, 508 eq&tu
Collection agencies basically have the same ding until its gone. Basically like a CO. Lates and other credit baddies will lose some sting after time.
@FireMedic1 wrote:Collection agencies basically have the same ding until its gone. Basically like a CO. Lates and other credit baddies will lose some sting after time.
So seeing as how it's the only baddie on the report I can expect a significant bump in score when it falls off next year?
Im going to call Transunion and Experian on Monday and see if I can get them to exclude it. I'm going to explain to them what happened and hopefully they will be understanding.
its a single collection from an ER visit that my insurance should've covered in full.
I never received a bill requesting payment for anything. At the time of discharge from the hospital I was told I owed nothing.
Nada, zip, el zilcho.
No bill in the mail. Nothing.
Over two years later a collection for $1098 shows up on my report.
checked the dates and it's from that ER visit
it's almost six years old now and I can't wait to be rid of it.
anyone have any advice on how to get rid of it.
@Thomas_Thumb wrote:
@Snook_on_the_Line wrote:
@FireMedic1 wrote:Collection agencies basically have the same ding until its gone. Basically like a CO. Lates and other credit baddies will lose some sting after time.
So seeing as how it's the only baddie on the report I can expect a significant bump in score when it falls off next year?
Yes, typically 50-60 points.
Data point to add.
Had the account deleted thru dispute last night
5 year old collection Only one on report.
78 point increase in fico 8.