Balance or no balance for CA

Anonymous · ‎07-30-2010

I just want to verify what I have been told. If you have a CA on your report, your score does not increase if you pay it off, is this correct? I have a $42 acct on all 3 reports, and it is something I need to pay because it is what is left on a defaulted student loan and I will be going back to school in the fall and in order to qualify for FINAID this has to be paid off.

mauve · ‎07-30-2010

Your score might drop due to the new activity.

Your best case is to get a PFD, a pay for delete, where you agree to pay them in exchange for them deleting the collection from your reports.

Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around

Take the myFICO Fitness Challenge

Anonymous · ‎07-30-2010

I thought about that, but I'm not sure it will work - the defaulted loan is being reported by Michigan Gty Agency, however it is being collected by another Agency. Whenever I have contacted MGA they refuse to talk to me send me directly to the other CA. I suppose I could pay it and then after MGA gets the payment request a deletion. I wonder if anyone else has had success with them.