Attack of the $2 Collection

I’m back again!  Wish I had seen your site before the stupid mortgage co. made me pay off some old medical bills before they would finance a house for me (bought for son) and had done pay for delete!  Oh well…. My question is why is there such a difference in the 3 credit bureaus’ scores?  After I did the pay off the 6 yr old $10 debt that was NOT reported along with the 6 yr old debt for $2 that WAS reported, all of a sudden the TU put another blotch on my score….  Could this be it?  Naturally, TU is the one most people use here!

Want to get a HELOC to do some upgrades to my paid for house and TU has me as FAIR with the other 2 in the GOOD range.

Mucho thanks if you could advise what I should do!

Gayle

———————

Hi Gayle,

I say no worries.  The effects of the collection warning will be gone in February 2008 and your credit score will sober up at that time.  You could attempt to make a deal the likes of collections & mortgages to have it removed prior, but the fact remains that mortgage companies are interested in your mid score. 

If two scores are good and one score is fair then your HELOC lender will view you as good.

Also, Geography & CRA Accuracy answers your question.

Thanks for the questions and hope this helps.

Paul