Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
moscka2

1 Contribution
0 People Helped
why does my score droped right away, but takes so long to come back up?
collection, score goes down right away, but payoff is not reported does nothing

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
0 People Helped

ripoff

why does it take so long to remove a collection after payed off ? and it only takes one minute to lower my score ??

Top Contributor
491 Contributions
211 People Helped

rather than feel it is a rip off, I would suggest taking some time to really learn about credit to protect yourself in the future.  I am sure that your score did not lower the exact second you missed a payment.  Typically it takes a month or more before any missed payment shows up a lowers your score.  I am sure that you were several months without sending payment before it went to collections, then another month or more before the lat payments became a collections on your credit reports.  So as you can see this downward path of score did not happen in one minute, nor does the upward.

Now to help out if within a month or two the collections does not show paid then it would become time to dispute it with reporting agencies. I believe there is a link on here to send you to the sepeerate reporting agencies so that you can file the dispute.  If not then you can go directly to the Agencies sites to dispute. 

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.