Reply
Moderator
Posts: 13,897
Registered: ‎04-15-2011
0

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!
Regular Contributor
Posts: 228
Registered: ‎06-22-2008
0

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.


2014 Goal ....... 700 Club   ...... repairing credit takes time......be patient.
-----------------------------------------------------------------------------------------------         
08/19/12 FAKO Scores - TU 560 EQ 545 EX 545    
09/29/14 FAKO Scores - TU 704 EQ 724 EX 714    
09/29/14 MYFICO Scores - TU 700 EQ 689 EX 711
New Contributor
Posts: 64
Registered: ‎02-06-2012
0

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.

Regular Contributor
Posts: 228
Registered: ‎06-22-2008
0

Re: First Premier CO Settlement Question

[ Edited ]

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!


2014 Goal ....... 700 Club   ...... repairing credit takes time......be patient.
-----------------------------------------------------------------------------------------------         
08/19/12 FAKO Scores - TU 560 EQ 545 EX 545    
09/29/14 FAKO Scores - TU 704 EQ 724 EX 714    
09/29/14 MYFICO Scores - TU 700 EQ 689 EX 711
Regular Contributor
Posts: 228
Registered: ‎06-22-2008
0

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)


2014 Goal ....... 700 Club   ...... repairing credit takes time......be patient.
-----------------------------------------------------------------------------------------------         
08/19/12 FAKO Scores - TU 560 EQ 545 EX 545    
09/29/14 FAKO Scores - TU 704 EQ 724 EX 714    
09/29/14 MYFICO Scores - TU 700 EQ 689 EX 711
Moderator
Posts: 22,040
Registered: ‎12-13-2013
0

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


EX Fico 08 BC 07/15: 806 (+14); EX Fico 04 V2 06/14: 775
EQ Beacon 5.0 12/14 757
TU Fico 8 07/15: 754 (-5)
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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.