Paying off 2 non medical collections?

[Anonymous]

So i have one with CapOne for $514 that shows to fall off in 04/2019 and another for an old bank account for $657 that shows to fall off around 4/2017. I am wanting to get a morgtage but scared to mess with these two accounts. If i pay them off and they do not get deleted, that will hurt my score wont it?

The $657 is with Credit Collections Inc, and the other is with Portfolio Recovery... NOt sure what to do.....

[Anonymous]

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@Anonymous wrote:

So i have one with CapOne for $514 that shows to fall off in 04/2019 and another for an old bank account for $657 that shows to fall off around 4/2017. I am wanting to get a morgtage but scared to mess with these two accounts. If i pay them off and they do not get deleted, that will hurt my score wont it?

The $657 is with Credit Collections Inc, and the other is with Portfolio Recovery... NOt sure what to do.....

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Contact your mortgage broker and find out if the lender requires them to be paid or not.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

So i have one with CapOne for $514 that shows to fall off in 04/2019 and another for an old bank account for $657 that shows to fall off around 4/2017. I am wanting to get a morgtage but scared to mess with these two accounts. If i pay them off and they do not get deleted, that will hurt my score wont it?

The $657 is with Credit Collections Inc, and the other is with Portfolio Recovery... NOt sure what to do.....

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Contact your mortgage broker and find out if the lender requires them to be paid or not.

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+1 ... No sense in taking action if you don't have to

[Anonymous]

I had a collections with portfolio recovery a couple years back. I paid it and never asked them to remove, now it's not on any of my reports. Maybe try a PFD with them? May not hurt to try. I haven't had much success with Cap1, that's not to say they can't be worked with. There are stories on here about people getting things removed, etc. Good Luck.

[Anonymous]

Was it nearing its 7 year mark? Did it drop off?

[RobertEG]

Collections are excluded from your credit report by the CRA based ONLY on the reported DOFD.

Payment or non-payment of the debt is irrelevant, and there is no "reset" of the exclusion date.

The CRA must exclude no later than 7 years plus 180 days from the reported DOFD.

CRA standard practice is to exclude at approx 7 years from DOFD, and thus their estimated exclusion date typically includes a standard early exclusion of approx 6 months.

Bottom line is that if the CRA fails to exclude after expiration of 7 years plus 180 days from the DOFD, they are in violation of the statute (FCRA 605(c)).

That rarely happens, and would subject them to complaint to the CFPB and/or civil action for violation of the FCRA.