Removal of Collection ... how much of a raise in score?

[the_girl]

I have reviewed my credit report and there was a collection on there that I knew nothing about (old medical something or other) for $224. Apparently the address they had for me was over 10 years old so they agreed that if I paid it, they would delete the account from the Credit Reporting Agencies.

After they do that, it shouldn't appear on there anymore right? How much should getting that off there raise my score?

Thanks!

[c m chase]

Sounds like whatever it was, it was out of SOL since the address was even 10 years old. You shouldn't have had to pay it off.

Did you get the agreement in writing that they'd remove it? If not, don't count on it really getting removed....you can't trust the word of a CA. Get things in WRITING before doing anything. They just wanted your money.

If it DOES fall off, it doesn't necessarily mean your score will go up. I've had collections fall off that raised my score 40 points...and others that have made my score go DOWN 10 points. It all depends on the mix of things on your report and the age of each of those. There's no way to tell how much anything will affect. Kinda just have to watch and see.

Do some reading up on debt validation letters. Sounds like you could have used one in this case.