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Paying off old collection

I have an old collection from an unpaid Comcast bill, I wont go into details on how i got this but around June 2015 it went to collections. I recently got a letter in Aug 2017 from  ERC stating i owed $86.00 for this debt. I was under the assumption that is it was under $100.00 it wouldnt hurt my score and it was best to leave be due to the fact of paying it off would make it appear new to lenders.

 

I would just pay it off but i am looking to finance something here in the next month or so and dont know what to do? Should I pay it off and risk it showing as a new debt or since ERC (different collection than original) sent me a letter this august is it showing as new anyway and paying it off would make the most sense?

 

If i dont pay it off will it hurt my chances of attaining the loan and would it have been better to pay off?

 

I have no other collections on my report.

 

If it matters, I am looking to finance an engagement ring in the amount of around 6k, Please no comments on how it is smarter to pay cash. I have the ability to pay this off in less than a year, I aquired a 2nd job for this reason specifically and i am out of time to propose....

 

 

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Re: Paying off old collection


Watisituya wrote:

I have an old collection from an unpaid Comcast bill, I wont go into details on how i got this but around June 2015 it went to collections. I recently got a letter in Aug 2017 from  ERC stating i owed $86.00 for this debt. I was under the assumption that is it was under $100.00 it wouldnt hurt my score and it was best to leave be due to the fact of paying it off would make it appear new to lenders.

 

I would just pay it off but i am looking to finance something here in the next month or so and dont know what to do? Should I pay it off and risk it showing as a new debt or since ERC (different collection than original) sent me a letter this august is it showing as new anyway and paying it off would make the most sense?

 

If i dont pay it off will it hurt my chances of attaining the loan and would it have been better to pay off?

 

I have no other collections on my report.

 

If it matters, I am looking to finance an engagement ring in the amount of around 6k, Please no comments on how it is smarter to pay cash. I have the ability to pay this off in less than a year, I aquired a 2nd job for this reason specifically and i am out of time to propose....

 

 


The amount of the collection is unimportant to whether or not it will affect your score; just its presence negatively impacts its scores.   Are they willing to do a PFD?  If not, then I would pay the debt just to be rid of it.  Congratulations on your pending engagement. 


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Re: Paying off old collection


Watisituya wrote:

I have an old collection from an unpaid Comcast bill, I wont go into details on how i got this but around June 2015 it went to collections. I recently got a letter in Aug 2017 from  ERC stating i owed $86.00 for this debt. I was under the assumption that is it was under $100.00 it wouldnt hurt my score and it was best to leave be due to the fact of paying it off would make it appear new to lenders.

 

I would just pay it off but i am looking to finance something here in the next month or so and dont know what to do? Should I pay it off and risk it showing as a new debt or since ERC (different collection than original) sent me a letter this august is it showing as new anyway and paying it off would make the most sense?

 

If i dont pay it off will it hurt my chances of attaining the loan and would it have been better to pay off?

 

I have no other collections on my report.

 

If it matters, I am looking to finance an engagement ring in the amount of around 6k, Please no comments on how it is smarter to pay cash. I have the ability to pay this off in less than a year, I aquired a 2nd job for this reason specifically and i am out of time to propose....

 

 


The amount of the collection is unimportant to whether or not it will affect your score; just its presence negatively impacts its scores.   Are they willing to do a PFD?  If not, then I would pay the debt just to be rid of it.  Congratulations on your pending engagement. 


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Re: Paying off old collection

[ Edited ]

Watisituya wrote:

I have an old collection from an unpaid Comcast bill, I wont go into details on how i got this but around June 2015 it went to collections. I recently got a letter in Aug 2017 from  ERC stating i owed $86.00 for this debt. I was under the assumption that is it was under $100.00 it wouldnt hurt my score and it was best to leave be due to the fact of paying it off would make it appear new to lenders.

 

I would just pay it off but i am looking to finance something here in the next month or so and dont know what to do? Should I pay it off and risk it showing as a new debt or since ERC (different collection than original) sent me a letter this august is it showing as new anyway and paying it off would make the most sense?

 

If i dont pay it off will it hurt my chances of attaining the loan and would it have been better to pay off?

 

I have no other collections on my report.

 

If it matters, I am looking to finance an engagement ring in the amount of around 6k, Please no comments on how it is smarter to pay cash. I have the ability to pay this off in less than a year, I aquired a 2nd job for this reason specifically and i am out of time to propose....

 

 


Its not old enough to make a difference IMO. Pay it - but try to negotiate a PFD if you can..

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New Member
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Re: Paying off old collection

What does PFD stand for?

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Re: Paying off old collection

[ Edited ]
Pay for delete, you offer the CA to pay the collection in exchange for them removing it from your credit report. It is best to get the agreement in writing.
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