Reply
Established Member
Posts: 17
Registered: ‎11-02-2010
0

Pay OC or CA

I have two chargeoffs- for Salute and Tribute cards. Midland is sending me offers to pay in full or set up payment plans. My question is... if I pay though Midland (if the OC won't work with me) will the balance on the original tradeline be updated to $0? Utilization is a huge problem on my report and I would like $0 balances.

 

 

Thanks

Established Member
Posts: 56
Registered: ‎02-15-2009
0

Re: Pay OC or CA

My personal preference is to always work with OC, but if OC has gone out of business/is no longer operating/or will refuse to let you pay them directly, then go ahead and pay the CA.  My husband has a debt to AT&T residential for $180 something but he had already made at least one payment directly to AT&T.  But NCO financial kept insisting he pay them, and only them, but they refused to send an invoice letter, all they did was Tele-spam us.  So finally we called AT&T directly and they gave us the address where we could mail a payment directly to them and the lady also told me that she would have it pulled back from the CA.  So my husband mailed his payment and few days later, NCO called again demanding payment and he told NCO what the AT&T rep said and he got mad and said that didn't count, blah, blah, blah.  B.S.

 

Try to find out if your OC is still operating and if they will allow you to mail/make a payment directly to them.  If they refuse to give you their mailing address, then and only then do you agree to deal with the CA.


Starting Score: 487
Current Score: Equifax: 539
Experian: 567
Transunion: 584


Overall Goal Score: 700


Take the FICO Fitness Challenge
Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Pay OC or CA


lauramg80 wrote:

I have two chargeoffs- for Salute and Tribute cards. Midland is sending me offers to pay in full or set up payment plans. My question is... if I pay though Midland (if the OC won't work with me) will the balance on the original tradeline be updated to $0? Utilization is a huge problem on my report and I would like $0 balances.

 

 

Thanks


If the OC is still reporting a balance that would indicate they still own the debt.  Call them and see if they will take payment from you.  Sometimes, even if they own the debt, they still require you to pay the CA.

 

If that happens, and you pay the CA, yes, the OC must update to 0.  That being said, it is the CA who would need to tell them.

Established Member
Posts: 17
Registered: ‎11-02-2010
0

Re: Pay OC or CA

Thank you!

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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.