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Question By
keeladog01

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Why did my credit go down about 40 points in the past three months
my credit score went down about 40 points and I don't know of anything different I did, what would be the reason.

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hmmmm...this happened to me once

Helpful to 8 out of 9 people

So I had started working on my credit score about 1 year ago. There wasnt any real activity with my score in several years.  I checked my score and figured that any derogatories from the past years would be there. I thought the damage was done and it'd be all uphill from there.  I was wrong. A collection agency saw recent activity and that my score was rising and they added 5 derogs that they had been sitting on for YEARS!!  They were medical and 5 years old. I had thought that being as they were so old they had already been added. Ugh! To my dismay, my score fell 40 points. I'm not sure if this is a strategy that debt collectors use, but this is what happened to me.  The good news is that I have since recovered my 40 points and then some.  I watch my credit vigilantly and have learned a ton from the forums.  The best way to recover these lost points is to have low utilization (15% or less) and pay on time.  I'm gaining 12-24 points per month. Good luck!!

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Hi!

Helpful to 1 out of 1 people

You need to do some digging to make sure that you have not been a victim of identity theft! 

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