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Question By
marlinreddot

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My credit score has dropped from 663 to 624 in last 30 days for account that went into collections
I was not aware of the money owed. I never received any correspondence concerning the bill. I called the collection company and all parties had been using the wrong address to try and reach me for 3 years. Collection company posted the amount owed as delinquent on my credit report as a way to try and reach me. Well it worked.

The amount is not much, $212.00, which I will pay off when I receive the bill. I am angry because I have been working hard to recover from bankruptcy and had finally gotten my credit score to a 663 before this to drop it to a 623.

Questions:

1) Due they have the right to post this as delinquent on my credit account as a way to find me?

2) If I pay the balance off immediately and the collection company reports that to the credit agency will my score recover to where it was before this happened? If so how long will it take for this to reflect on my credit score?

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Yes, they have the right to post this on your report unless you can prove you provided updated address to the original creditors.  If this account is near 7 years old, it will fall of if unpaid.  If you pay it without getting a "pay per delete" agreement in writing, then it will stay on your report for 7 years after you pay it off.  You score is impacted the day they report the info to the bureaus.

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