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How much will a new collections (100$) lower my high credit score from 760?
I have a new collections from a cell phone company (wrongly! of course) added to my credit report. My Fico is 760 and I have no other late payments on lots of accounts. My credit debt ratio is 80/20. How much might my score drop and how much will it recover bit by bit?
Thanks a bunch,
jolott
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jolott
1 year ago
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Delinquent account can cost as much as 100+ points of your credit score. It can also stay on your credit report for 7 years. If the collection is incorrect, you have a right to dispute it. Just write to the collection agency and request the verification of debt. Do not just ignore it. You have to resolve the issue or have an adverse impact to your credit report.
SaddieTaz 1 year ago
dispute and dispute the bill since it wrong and you can prove it.
lostcause 1 year ago