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@mysterythemoon wrote:
I have a 421 dollar Kohl's CO from 2014. It's on all three CRs. I want to handle this as well as possible. I'd like to buy a condo in the next three years, so raising my credit (currently in month 4 of the rebuild -EX 627-) is key. Assuming they don't go for PFD, should I just settle it immediately? Yes, especially if its updating monthly.
Is it killing my score? If its updating monthly it is keeping your Fico depressed, as derogs age they have less of an impact on Fico. Fico looks at the status date so a CO that updates now looks like it just happened in its eyes.
I also heard the FICO model won't look at paid off collections in a negative light. Can someone explain that? This is not correct at all. Fico8 discounts collections below $100 and doesnt give regard to them but there is no blanket that it disregards all PIF collection.