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only1Yessenia

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Collections of $288 from T-Mobile back in 2009
I have an open Collections and when I called they said it's from 2009.
If I ask for it to be reduced, will they agree?
Once I pay it off... How long until my 50 points go back up?
I currently have a 674 Credit Score here at CK and last year I was in the mid 700s :( All payments are always on time, this is the only thing dragging my credit score.

BTW... My credit will lower (how much?) since I applied for an Amazon CC today.

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Its impossible to say if they would agree to lowering the amount if you offer to pay it off. Since it is in collections and already 5 years old, it is likely the debt has already been sold a couple of times for a percentage of the original debt amount. It is possible that they paid pennies on the dollar for the original amount and could profit with even an offer to pay considerably less than due. It is worth a shot. 

Paying it off will have some impact on your score (Paid vs Collections) but the derogatory remark will most likely remain for another couple of years based on the timeframe you provided.

Did this just go to collections in the last year? It seems strange for a 5+ year old charge-off to impact your score by that much out of the blue. Are you sure there isn't something else hendering your score? Did you recently have several hard inquiries or perhaps some older accounts that were closed or dropped off and your Avg Age took a hit?

Good Luck,

Dan

Top Contributor
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98 People Helped

Almost forgot, use CK's Credit Score Simulator to get an idea for how adding the hard inquiry will impact your score:

https://www.creditkarma.com/myfinances/simulator/index/ref/tools

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