I recently had a collection placed on my reports. Something I had simply overlooked. I was frantic because I have worked for 4 years to get my credit to good standing. When the collection was added, it dropped my scores 40+ points. I paid the account (and figured I’d try a GW letter afterwards) and that action dropped my scores another 13+ points. Why would it DROP after payment was received? I’ve read that paying your debts is supposed to help but it actually made it worse! I’m so frustrated. I was a few points away from the 700 club that I have worked so very hard for, and now I’m back to the drawing board. Thoughts?