I tried applying for a car loan today and the finance guy pulled up my CR.. To my surprise, I have an EQ FICO score of 593 (I thought it was lower). I have a CO from Nissan Motor Acceptance first reported on 01/2012 with a balance of $3,864 on a auto loan taken on back in 2005. They never repo'ed the vehicle and it is stil under my possesion however, I know that I have to one day pay off the balance so I can acquire the title. The finance guy at the dealership said if I paid the charge-off in full, it would raise my score significantly since there is only one other medical collection account that needs to be paid.. I called Nissan today and they said once I paid the CA (Plaza Associates) they would mail me the title and a confirmation letter stating that the account has been paid in full.. And that surely the account would state "PIF" on my CR rather than a CO. I also called the CA and they said the same thing - also, the collection company is not showing on any of my CR"s - the collection account is being reported by Nissan only. At this point, i'm stuck as in what to do going forward... Should I send Nissan a PFD? I don't think they would be willing to delete the whole TL and I was 30 days past due several time due to job layoff, etc. Will paying the CO raise my credit score? It was first reported on Jan 2012
