I had a credit card a long time ago. I was irresponsible with it. I learned from my mistake, got rid of it, got all of my credit cards on a payment plan and got rid of all but one. This last one is haunting me. They would not work with me at all. I let it go to collections. 
It was a huge mistake. The worst part of my credit report is from this card.
I am confused about how to get it off my report the fastest. The original company sold it to collections. I have NEVER had contact with the collections company. This is the second one that they have sent it to. The first is not on my credit report. I know it is something that i owe, and I want to pay it when I get my taxes this year. It won't drop off for almost 5 years!
Should I send a PFD letter and ask them to take the whole thing off of my credit reports? Should I only pay part of it? The original amout I owed is about 500 less than what the collection wants. I'm pretty sure they will take it, as they recently sent me a letter that asked me if I wanted to settle for a lower amount.
The worst part is that yesterday I got an alert that my FICO score went up because of increased use on my credit card! I think. I'm not sure why it went up, but I think that is what it was. Some of the bad credit cards are set to drop off this year. I have to look closer at the reports I got today and see exactly when.
I also recently started getting offers for credit cards. I haven't gotten them for about 6 years or so. I got an offer from Amex too! I was very irresponsible with them when I was much younger, so I thought I would have to beg them to get another card with them.
So, HELP!! Please! Let me know if you have questions because I am not sure that this makes sense to anyone but me!
Starting Score: 541
@AnnaRachel wrote:I had a credit card a long time ago. I was irresponsible with it. I learned from my mistake, got rid of it, got all of my credit cards on a payment plan and got rid of all but one. This last one is haunting me. They would not work with me at all. I let it go to collections.
I am confused about how to get it off my report the fastest. The original company sold it to collections. I have NEVER had contact with the collections company. This is the second one that they have sent it to. The first is not on my credit report. I know it is something that i owe, and I want to pay it when I get my taxes this year. It won't drop off for almost 5 years!
Should I send a PFD letter and ask them to take the whole thing off of my credit reports? Should I only pay part of it? The original amout I owed is about 500 less than what the collection wants. I'm pretty sure they will take it, as they recently sent me a letter that asked me if I wanted to settle for a lower amount.
The worst part is that yesterday I got an alert that my FICO score went up because of increased use on my credit card! I think. I'm not sure why it went up, but I think that is what it was. Some of the bad credit cards are set to drop off this year. I have to look closer at the reports I got today and see exactly when.
I also recently started getting offers for credit cards. I haven't gotten them for about 6 years or so. I got an offer from Amex too! I was very irresponsible with them when I was much younger, so I thought I would have to beg them to get another card with them.
So, HELP!! Please! Let me know if you have questions because I am not sure that this makes sense to anyone but me!
First since there is 5 years left before it drops off I will assume it is still with-in SOL.
If you contact them even for a PFD to settle the account, make sure you have the total amount owed since they can still refuse your offer and possibly attempt to sue you.
Making a PFD attempt to have the CA removed IMO is your best bet. Being that you still have 5 more years before it falls off I would offer the full amount owed for removal from Credit Reports.
That is what I was thinking. I really hate that I wasted time and money and a good credit score because I was being stubborn. My state's SOL is 4 years, so it will not be going away soon enough for me.
Thanks for the reply!