10-31-2012 07:06 AM
I have a First Premier Charge Off from 2009 for $419. No CAs on my report for this debt.
I have written them twice for a PFD, but all I got was 2 form letters stating info reporting correctly, etc etc etc
Yesterday I called them and offered full payment of the $419 for PFD or just Paid as status. Refused. They came back and offered to take $250 (original limit) as a settlement. I told them I would call back tomorrow.
Is a paid CO better than what I have? Will it re-age this account, making it stay longer on my report?
Should I pay and them just keep GW to death for the next 4 years?
Any suggestions will be most appreciated!
10-31-2012 07:13 AM
The CO balance is being factored into your utilization which kills your score.
If they won't PFD, then settle with them and cut your losses with them for good. In the end, the utilization drop will help your score but you'll still have the CO.
10-31-2012 07:52 AM
Should you pay it, it shouldn't reset the clock for the CRTP. Of course a PFD is always preferable, but First Premier doesn't promise much luck on that. I would suggest to pay it, or settle if if you wish. And then start to GW it. Do you know when the DOFD is so you will know when it would fall off?
10-31-2012 10:22 AM
First Premier reports the balance in your utilization. I was in the same boat and PIF, they updated CO/Paid in Full; score increased by 15 points.
11-01-2012 01:11 PM
+1 Then start sending them GWs. You might get lucky.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.