Feb
23
2010
How Much Will My Credit Score Be Affected If I Was Reported To A Collections Agency Just Once?
Posted by: Alan in Credit Score, tags: Affected, Agency, Collections, Credit, Just, Much, Once, Reported, Score, Will
My credit score was near perfect before this and I was reported just once for a small amount of $13. I am desperate and I have no clue what this will mean to me. Please provide some resources if possible!
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February 23rd, 2010 at 9:32 pm
I have a fantastic credit score… On one service it was 725 on the second service it was 751 and and the third it was 773. When I looked at the difference of what was reported, I found that the 725 had a report of a medical bill for about 50 bucks which was really paid. There had been a screw up in changing insurance companies and so the doctors office’s collection people reported this and missed removing it when they realized their error.
So, once this was removed, my credit score from that service rose to the 760’s.
Now, anywhere in the 700’s are suppose to be fantastic, but when I went to buy a home, they did question about this, and it was a hassle. I am sure I would have gotten the loan either way, and maybe I made it more of a hassle than it should have been, but I really dislike having anything questioned when I am going for a Jumbo loan.
I hope this helps.
February 24th, 2010 at 2:28 am
if your credit otherwise is excellent, I reckon it is meaningless
they mostly look at credit cards first, and then loans and stuff like that. if all that is excellent, your ok
lots of excellent people get reported to collection agencies for all sorts of dumb reasons. its happened to me.
never affected me at all.