Hello everyone-
I have my final baddie which I tackled with a CA. Because everyone here knows FP won't do PFD for CO CC accounts.
So I settled the balance of $428, for $278. FP says the balance owed will be updated to $0 and the notation will read "Settled Less than Full" $0.
However there is no CA or anything on my CR other than the FP Chargeoff. Once the CA took my payment they sent me a letter. And FP updated the account $150 balance.
I promptly called FP and they said in 30 days the balance will update to $0 and the account is settled. I don't think GW will work. The DOFD is 10/2006. And when the debt was paid the DOLA was placed at 7/2011.
I have two questions:
Will I see a score improvement for paying off this debt since on myfico it shows this card is being factored into my utili?
Will this settlement notation ding my score, or has the damage from the CO already been done?
I've read on here that getting rid of a Past Due account with a CC CO which is placed in your utilization will sometimes hel your score?
My utilization on my open cards are relatively new, so m hoping just by paying this debt to avoid any legal action or CA showing on my CR, this was the best action for me.
Anyone able to shed some light?
Thanks,
Mrfulloluv
TU FICO 640 (charge off on here, but not on EQ)
EQ FICO 685
Thanks in advance everyone!