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Posted in Paying Your Bills
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Question By
Jmcpeak

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How much would my score be affected if I paid off a collection account of $144?
Electric company sent me a check for $144 after closing my account. Then they called me back saying they needed the money back. I called to make sure before I cashed the check that I was suppose to receive it and they said yes and told me to cash it.

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expected more

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paid off collection for 1,800 one month after collection and only raised 7 points

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It's impossible to say how your score would be affected, since scoring is complex and everyone's scoring picture is different. However, once something has gone into collections, that negative remains on our reports for seven years, even if we pay off the debt that caused the problem.

If it's a relatively recent debt, you should probably pay it, just to get the score-repair/rebuilding process under way.

Reply by
Bigpain121

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What if it's an old account from 3 years ago?

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SOLUTION FINALLY!!!

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I finally got them to admit that it was their fault.  I paid it and they removed it from my credit.  Score went from 645 to 671. 

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