Ive been lurking around myfico forums for a long time but this is my first time posting! Please forgive my rambling and unorganized nature.
Long story short, I've had credit issues in the past and I've been working very hard over the past year to repair my credit with hopes of buying my first house in the next 6 months. I have 1 unpaid collection from an old Wells Fargo bank account that had been severely over drafted back around 2008.
The CA "Wells Fargo dda" is showing on TU for $2251 opened 10/16/13, and EQ "collection associate" for $2251 opened 10/01/13.
Side note, Wells Fargo let me open an opportunity checking account back in January 2013 when I had a payroll check issued by Wells Fargo that was too large for non customer to cash. They just reopened my old account, same log ins, even though I had the charge off account that was also on chexsystems. Maybe it was a manager exception at the branch or something but due to other items reporting to chexsystems , I'm stuck for now. They graduated my opportunity checking account to a way 2 save normal account on 6/15/14 and I just got my letter for my secured card graduation that's happening by sept 10th.
I am grateful to Wells Fargo for giving me a second chance with my checking and credit card and I'm afraid that when I poke the sleeping bear that is the old collection, it's going to create a mess. I believe this original account became past due about 5 years ago because it was reporting to chexsystems back in January but now it's off of chexsystems as of today.
i believe since the collection is over $2,000 I have to pay or get on payment plan to be proved for FHA. I'm thinking PFD is the way to go but please give me your thoughts.
