Ok, so I know paying off a collections account doesn't improve your score, in most cases it hurts it. I have a $7526 collections to infiniti financial services, they won't even talk to me, sent letters, called, etc. I hired a credit repair company, they was able to get them to talk. My scores is 600/595/551 I have to get to a 640. Infiniti told the repair company that they'll settle for $3500 and report "settlement paid" and the repair company says they'll dispute it there after, and see if they get a response in 30-45 days if not it will be deleted, OR pay the full $7526 and Infiniti said they'll report it pif and promise to delete. I'm not sure yet which route to take yet, it will take me 6 weeks to save that kind of cash. My real question is, I vaguely remember how much my score dropped when I returned my lease with the excessive mileage, from what I recall it was between 60-90 points, but I'm not sure though, I was told that if it was deleted from my report that the points that was taken away from my score will return as if I never had anything up there from Infiniti in the first place but I'm trying to figure out how much will my score improve because I want to close on a house but I can't do it with a huge open collections account. Any thoughts, please anything will help, Thanks!!
Starting Score: TU527 EQ517 April 2012
Bump
I was leaning that way as well, but truthfully I dont have the $7526, it'll take some Weeks, and they are giving me till the 15th of July. I guess I'll be saving for the next few Weeks.
Btw, why would you take that option? I'm nit 100% sold on the dispute process being successful after a settlement.
Btw, why would you take that option? I'm nit 100% sold on the dispute process being successful after a settlement.
