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Question By
jibby200

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Why did my credit score drop after I turn 5 of my credit cards over to Huron Law FOR Collections?

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As Mindjazz said, by closing the accounts you reduced your available credit. (Which knocks off points.) This likely raised your utilization ratio (which also knocks off points). And it likely brought your Average Age of Accounts down (which also knocks out points.)

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CREDIT CARDS I

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I think I used the wrong word (collection) they were paid on time ,never late Ilost my job andI wanted to cut my payments down.

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mindjazz

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You no longer have access to the accounts so they're effectively closed. That reduces the credit available,  which lowers your score. I don't know if the law firm negotiated a lower interest rate also. 

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You had 5 accounts in collection. That's not going to be positive for your credit score. The firm you hired has negotiated a reduced interest rate, amount and term most probably. That affects your credit balances, and the account lines of credit have been closed. The closed accounts reduces your credit availability. 

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I signed with HURON LAW FIRM AS MY POWER OF ATTORNEY TO PAY OFF 5 CREDIT CARDS and my credit score drop to 539 why?

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RESPONSE TO ANYONE USING CREDIT KARMA.  DONT.  THEY REPORT THE WRONG CREDIT SCORES.  ONE TIME THEY REPORTED MY SCORE 100 POINTS HIGHER THAN IT REALLY WAS.  I PAID FOR A FULL REPORT.  ALL MY SCORES WERE THE SAME.

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