Grid Code G (COLLECTION) anyone have an idea??

[cyberone28]

i just recieved an alert from myfico and  eliminateidtheft 

one collection.... danm it cant believe i forgot about that electric bill i had... of course my score took a hard hit... anyone has any idea how tough is  ALLIANCEONE?  need this gone ASAP!! will call them tomorrow and see if they own the debt.. any ideas how i get to work with this guys  for a PFD??

[RobertEG]

There are two primary issues to consider.  One is satisfaction of the debt, and the other is credit scoring impact of the collection.

As for credit scoring, first determine when it is due for normal credit report exclusion.  For that, you need the DOFD on the OC account.

The collection will cease to appear in your CR after 7 yrs plus 180 days from DOFD.

What is the DOFD on the OC account?

As for satisfaction of the debt, any unpaid, delinquent debt can always resurface and become a problem in future quest for credit.

Credit report exclusion shields the debt from convenient discovery by a simple pull of your CR, but it can always be discovered by other means.

Thus, there is definate advantage to paying the debt.  However, if it is approaching its CR exclusion date, a PFD becomes less important, as it will soon be excluded by statute.  That may improve chances of acceptance of a settlement for less than the full debt.

[cyberone28]

DoFD is about 4 month ago was after my divorce i moved out of the house  and i guess she didnt pay the bill but since was on my name...