09-07-2012 07:23 AM
This morning I woke up and got my bill folder and started going throught all my bills. I paid on some of my medical bills. Including the $9.40 one that was sent to collections. The thing is I paid through the bill pay on the site for the Medical Offices and NOT the CA. Do you think they will post it to my account,send to collection, or will they just take the money and do nothing? I manage to find one of the bills to the collection on my record, and it's from 2008! I paid it through the OC website.
They wouldn't have processed my payment if the account didn't exist right? They have to post it to my account right? This has to help my score....right?
As Cap 1, I found an old collection letter from last year where the CA was going to let me make payments on what I owe, at the time I wasn't working, but now I wil be willing to make the monthly if it'll help my score. Though, since the card is so old I kinda want to wait for it to fall off. But, the payments are for 12 months and though I plan to purchase a vehicle that could help my score....right?
09-07-2012 10:50 AM
They could cash it and keep it which would mean either they recall the CA or they'll tell the CA to update to $0. Or they could forward the money to the CA and then the CA would probably update to $0. Or maybe the OC decides to cash it and refund you that amount later on. If the CA updates to $0, your score won't change. If the CA deletes, there's a potential for an increase.
Paying CapOne over time could hurt your FICO if the TL hadn't updated in a while. If they updated monthly, as CapOne usually does, then you won't see much of an increase after a payment but after a year you could see a net increase if util improved.