I wasn't sure where to put this, either here or in rebuilding. I want to apply for a mortgage in Nov or Dec. I still have work to do. Yesterday I got a letter offering a settlement on one of my collections accounts. I owe 582.76 they want to settle for 174.83. I would love to get this off my back, but not sure because they will update it and maybe bring down my score. Not that it is good right now. Do you think I have enough time to recover any points I may lose by paying this? Or should I just wait until I go through the mortgage process and see what they (underwriting) say? The account is from March of 2011. It is my newest one. I just don't want to mess anything up, but I do want to get this taken care of. Maybe I can PFD (in full). Like so many people I just don't want to screw anything up. Thanks for any advice.
Starting Score: EQ: 559 Score Watch
Thanks for the reply. I figure the UW will want it paid anyway might as well do know and get it over with.
MY Lo told me to pay/settle my collection and I did. It looks better to the underwriter that you tried to satisfy the collection instead of just ignoring it. There were no points loss on my credit score after I paid it either.
Starting Score: TU 654 EQ 599
@Chinadoll wrote:
MY Lo told me to pay/settle my collection and I did. It looks better to the underwriter that you tried to satisfy the collection instead of just ignoring it. There were no points loss on my credit score after I paid it either.
Thank you so much! I will accept their offer and get it off my back