@annm wrote:So I have this old account with Online Collections from 2008 - next year will be the 7 years. I called someone and asked if they ever do a good will deletion upon payment - of course they said no.
So I was wondering if I go ahead and pay it anyway - this won't reset the SoL on it will it? I don't really want to wait another year. If I pay it now I could start sending the GW letters but I don't want to risk this being on my report any longer than next year.
Advice?
I would only pay it if it is updating on a monthly basis otherwise there is no reason to do so unless you are intending to aquire a mortgage prior to its exclusion from your CRs. Depends on what state you live in if it resets the SOL but its irrelevant if you are paying it anyway.... The SOL and time allowed to report on your CRs are not the same things. If the CA is not updating monthly and you PIF when it updates to show Paid Collection its going to drop your score(s) as FICO will pick it up as a new CA. Unpaid or paid they are the same in FICOs eyes.
I think it is updating monthly - I disputed it once and it fell off (for like a month) and then it came right back on.
So I guess what you're saying is that it's best to pay it?
Also, w/r to the mortgage - I don't know what I'll be doing next year but if it has fallen off my report what difference does it make whether I paid it or not?? Just curious. 
@annm wrote:So I have this old account with Online Collections from 2008 - next year will be the 7 years. I called someone and asked if they ever do a good will deletion upon payment - of course they said no.
So I was wondering if I go ahead and pay it anyway - this won't reset the SoL on it will it? I don't really want to wait another year. If I pay it now I could start sending the GW letters but I don't want to risk this being on my report any longer than next year.
Advice?
If you pay, there would be no SOL because there would be no debt. They can't get a judgement on $0. I do believe you are referring to the CRTP. No, it does not reset that, it would still be excluded the same as it was before. But, now that it's paid, I'd start the GW process. I've had much better success with it then PFDs. But that's my personal experience.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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