So I've spent the last 2hrs reading through different threads but haven't figured it out yet. I have 2 accounts in collections w/LVNV that I am being asked to pay in order to qualify for a mortgage loan. These accounts have been in collections since 2008 but somehow recently got updated which dropped my credit score by about 80 points. Earlier today I was on the phone w/ LVNV trying to pay them in full but luckily their system suddenly crashed and they couldn't take my payment, it was then that I decided to do some research and found this forum and read about PFD letters. My question is this:
IF they do agree to a PFD will this improve my credit score? The accounts are not a CO, they still appear as collections.
My husband and I have been trying to buy a house for the past 6 months and have been given a lot of bad advice that has caused us to fall out of escrow on 2 properties and has cost us a lot of money. I am just trying to figure out if paying these accounts and having them removed will actually improve my credit ...I don't want to spend the money to pay these accounts in full if it's not going to do anything for my score. Will having it deleted yield better results than negotiating a settlement with them? My lowest score right now is at a 576. Appreciate the advice!
