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First Premier CO Settlement Question

Moderator Emeritus

Re: First Premier CO Settlement Question

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.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 11 of 16
Regular Contributor

Re: First Premier CO Settlement Question

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.

Message 12 of 16
New Contributor

Re: First Premier CO Settlement Question

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.

Message 13 of 16
Regular Contributor

Re: First Premier CO Settlement Question

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!

Message 14 of 16
Regular Contributor

Re: First Premier CO Settlement Question

Thought I would give an update on this................for some reason, even though they denied numerous GW requests since I settled........FP decided to remove the entire account from all 3 CRs last month permanently.  

 

Not sure if accidental or on purpose...........but I thank them anyway.   (wasn't due to fall off until 2016)

Message 15 of 16
Moderator

Re: First Premier CO Settlement Question


SusieQ wrote:

Thought I would give an update on this................for some reason, even though they denied numerous GW requests since I settled........FP decided to remove the entire account from all 3 CRs last month permanently.  

 

Not sure if accidental or on purpose...........but I thank them anyway.   (wasn't due to fall off until 2016)


Grats on finally getting what you were after Smiley Happy

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
Message 16 of 16