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50 point jump

Valued Member

50 point jump

I know there is alot of talk on paying charge off's anf how it can hurt your score.  I paid a 911 dollar charge off that was also reporting as a past due balance.  I tried for a PFD and they said no, so I went on and paid it.  My EQ score went from  564 to 614 in one night by paying it.  I guess getting the PFD would have helped even more.  However I went from 911 past due to Zero past due and my scores went up like a rocket.
Message 1 of 14
13 REPLIES
Regular Contributor

Re: 50 point jump

same thing happened to me.Smiley Happy
 
Message 2 of 14
Super Contributor

Re: 50 point jump

Maybe honesty pays  Smiley Very Happy
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 3 of 14
Established Contributor

Re: 50 point jump

Nice bump in score...Smiley Happy
9/18/08 TU=707 EQ=706 EX=702
Message 4 of 14
Valued Member

Re: 50 point jump

well I paid off 2 charge off a month ago they havent updated yet. i didnt get a PFD but i did pay off in full so im hoping I get the same amount of Jump
Message 5 of 14
New Visitor

Re: 50 point jump

did you get your jump yet?
 
Message 6 of 14
Established Contributor

Re: 50 point jump

Well then I have a question.
If the account is charged off does it make a difference to FICO whether you paid in full or came to a settlement amount?  Cause if its the same (ie, you're still left with a CO on your CR), then why pay in full?


Message Edited by trinigal on 06-29-2007 11:52 AM
Message 7 of 14
Regular Contributor

Re: 50 point jump

Boost me up, Cap'n!
 
I can't wait till my $5400 payoff hits one of my charged off accounts, then!!!
 
And, yes everybody, I tried a PFD first.
Message 8 of 14
Established Member

Re: 50 point jump



trinigal wrote:
Well then I have a question.
If the account is charged off does it make a difference to FICO whether you paid in full or came to a settlement amount?  Cause if its the same (ie, you're still left with a CO on your CR), then why pay in full?


Message Edited by trinigal on 06-29-2007 11:52 AM

Why pay in full?  Maybe because you owe the money and that would be the right thing to do.
Message 9 of 14
Valued Member

Re: 50 point jump

From what I have read in here a CO is  CO no matter what you settle for, However it might look better on a manual review to PIF.


Message Edited by critterj7 on 06-29-2007 01:15 PM

Message Edited by critterj7 on 06-29-2007 01:15 PM
Message 10 of 14