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meems1965

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Why did my credit score drop after paying off my collection accts?
I had 4 accts in collections which I have paid off. Three have reported the payments and I still shows pending but my score has dropped from 645 to 621. Anyone have any idea why this would happen?

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Probably due to the collection accounts updating if they have not updated in a while. When old collections are updated, they look fresh to the scoring system and it dings your scores. They will come back though. Make sure that you follow your FICO scores too. Do some reading on "Goodwill Letters" as you will want to start writing them since you did not negotiate a "Pay For Delete Agreement" prior to paying.

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