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Paying off Collections Q & A

Q:

I am in the process of cleaning up my credit so I can get a mortgage. My credit score was 569 on 9/11/10 and I have since had a judgment removed that was dismissed. Now my as of 7/23 my score has DROPPED 15 points! Nothing else has changed, if anything it has improved. Why the sudden 15 point drop because I had a judgment removed?

Melissa

Gainsville, Florida

A:

“No one item on a credit report is worth a fixed amount of points in your score.  The impression many people have is that when a negative item is removed that the score will improve.  That’s not consistent with how credit scoring systems work.  The removal of that one item means other negative items will change in their impact to your score, and in your case the result seems to be a lower score.”

CreditScoreQuick.com

This entry was posted on Wednesday, September 29th, 2010 at 9:43 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.



One Response to “Paying off Collections Q & A”

  1. Frances Jackson Miller says:
    October 1, 2010 at 10:25 pm

    There are lots of things that could be going on with a credit score moving it up and down. What else was happening when the judgment was removed?

Disclaimer: This information has been compiled and provided by CreditScoreQuick.com as an informational service to the public. While our goal is to provide information that will help consumers to manage their credit and debt, this information should not be considered legal advice. Such advice must be specific to the various circumstances of each person's situation, and the general information provided on these pages should not be used as a substitute for the advice of competent legal counsel.