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Moderator
Shogun
Posts: 12,952
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+

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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
SusieQ
Posts: 227
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
poohda23
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
SusieQ
Posts: 227
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
SusieQ
Posts: 227
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
Valued Contributor
gdale6
Posts: 9,657
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 :smileyhappy:

EX Cred Ses 12/14: 796 ; EX Fico 04 V2 06/14: 775; EX Fico 08 07/14 778 ; EX Fico 08 BC 12/14: 858
EQ Fico 05/14 781 ; EQ MPM 12/14: 750
TU Fico 8 12/14: 719; TU MPM 06/14 706

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