07-17-2009 10:52 AM
I don't really post much, just mainly browse the forums for information. Well, I'm in the process of joining the military and need a secret clearance. The secret clearance requires that I not have any adverse credit info such as collections, bankruptcies, judgments. At the time, I had 3 small balance collection accounts. I've paid 2 of the three thus far. I've listed the two accounts as they appeared on my Transunion and Experian report. They were scheduled to fall of within the next 3-4 years, however I needed them to be showed as Paid in Full. My question: By paying these accounts, have I completely F'd up the possiblity of them falling off on the dates indicated? I know I may take a ding to my FICO, but that isn't my primary concern right now.
-Bay Area Credit Services
Date Placed for Collections: 06/2008
Estimated Date Item will be removed: 10/2012
Date Updated: 07/2008
Original Creditor: ATT West
Amount Paid (paid today): $129 for Paid in Full
This account became first delinquent some time in 2004.
-Credit Bureau Associates
Estimated Date Item will be removed: 07/2011
Original Creditor: UC Davis
Amount Paid (paid yesterday): $45 for Paid in full
This account became first delinquent some time in 2005
Are the estimated date of removal stated on the reports final and binding. I would hate for this information to reported after the 7-7.5 year mark simply because I made a payment. The balances are rather small, and my FICO score is in the 690-720 range, I think because these accounts are rather old.
Any input would be greatly appreciated.
07-17-2009 11:06 AM
If this helps...When my DoD Secret was in the works, I had 4 collection accts, plus... Cap 1 written off/bad debt, plus... a cc showing 30, 60, 90, 120, c/o...sold to collections, plus...another cc with 4- 30 day lates & 2- 60 day lates, (and more actually) Although I began paying some of this off, I KNOW it wasn't good because all the negative info was there....paid or not. I still got my clearance.
I'd pay up what you can asap, but I think they're mainly looking for someone who has a 40k income & is 100k in cc debt. That's a red flag...basically, they are someone who could be paid by an enemy for secret information...
If your debts aren't astronomical, but a situation that any normal joe could find themself in...you should be fine.
07-17-2009 11:21 AM
It is my understanding from these forums that payment on items such as those should NOT re-age your account, so it should not impact when they disappear from your reports.
Even so, I would keep a copy of the reports from all 3 agencies showing the information about the age and when they're due to come off, just in case someone does attempt to re-age them illegally.
07-18-2009 01:26 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.