11-02-2012 10:55 AM
Sounds like a valid plan. Good Luck! And the good part so far is the debt is paid, it can't come back to haunt you.
11-02-2012 10:58 AM
Valid point! I actually feel good about paying it today. I have one more CO to go, but waiting until Feb when the SOL giant goes to sleep permanently.
11-02-2012 01:21 PM
I am in the same boat with First Premier. I have two charge off accounts with them. I was wondering if I pay will it drop my score, even though the simulator stated that it would increase my score by over 50 points. They are due to fall off in a year.
11-29-2012 04:25 PM - edited 11-29-2012 04:31 PM
Paid off the First Premier earlier this month. Today - TU finally shows a balance of $0 and my Fico score jumped up 16 points! The charge off now has a status of "Payment after charge off/collection. Settled - less than full balance." I can live with that (for now........lol). Waiting for the other 2 credit reports to show change.
Good decision to pay - thanks to the board
P.S. I think I will start sending them GW letters every 3 weeks until they either remove it or it drops off. I can handle the cost of a stamp!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO