Paid Collections Bringing Down Score

I recently paid off all my colletion accounts, 6 total, in order to purchase my home...The thing is, now that I paid them off my FICO is still 553...I now know, since being a member of TCI that paying off all collection debts is not a way to raise my FICO score. I disputed these collection accounts by saying "these debts are eronous" and the reply was, "these debts were verified as correct....My question is how can I dispute these paid collection items from my credit report, since they are bringing down my FICO score.

Comments(3)

  • consultwithme25th February, 2004

    I know how to do it now, I have the forms
    for sale that are (2) to get stuff off yr
    cr. record, very effective , not many people
    have them, just simply ask
    to verify it with some references to some
    laws, works everytime for me, gets deleted. Sometimes, I have to send ltr to
    the creditors to get them to cease and
    desist from puting it back on.
    **Please See My Profile**

  • tytitan29th February, 2004

    Quote:
    On 2004-02-25 17:28, felineeyes wrote:
    I recently paid off all my colletion accounts, 6 total, in order to purchase my home...The thing is, now that I paid them off my FICO is still 553...I now know, since being a member of TCI that paying off all collection debts is not a way to raise my FICO score. I disputed these collection accounts by saying "these debts are eronous" and the reply was, "these debts were verified as correct....My question is how can I dispute these paid collection items from my credit report, since they are bringing down my FICO score.


    PM and I'll help you...at no charge. It's very simple just takes a few weeks that's all.
    [addsig]

  • jkgcmorris29th February, 2004

    I am familiar with a process to take creditors to mitigation and winning via default. It's pretty effective to the majority of my clients. I wouldn't pay for anything though so be careful. Once the debt is absolved the creditors or required to remove all derogatory remarks with in 30 days but they drag it out. Your FICO May not jump immediately. If the Derogatories are removed and the account stays open (unlikely) you may see an increase in score. Also removal of derogatory (30/60/90/120 day lates and Collections) may stop affecting your score but only if the accounts can stay open or you have 3 - 5 the good tradelines with a $1000 aggregate.AND a good Mortgage or rental History 24 months w/o lates.

Add Comment

Login To Comment