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Chase offered to remove a derog account from my credit file after I PIF. The account has a 30, 60, 90, 120 and one 150 late payment on it (bur did not CO). The account was opened in 2008, so it adds to my AAOA of 8-years. Oldest account in 24 years (Amex backdated). How do I know if the removal of the account (after I PIF) will be better for my credit profile, instead of just paying it off and let the account history remain (no removal). The lates have age a little b/c the last date of delinquency happened on 4/2010.
Suggestion please.
As it has not gone into collections, then IMHO it is a no brainer to have them remove it after you PIF.
I agree with Marty, get them to remove the account. Since your AAoA is 8 years, and this account is only 4 years old it is actually not contributing positively to your AAoA.
I'd have it removed as well (and get that in writing!). Any age lost will be gained back in time.
Thanks for the feedback. I should be done paying it off in about 6-months so deletion is what I'll take. I will make sure to get that in writing too.