Rebuilding Your Credit

[jennifer143]

I moved out of my apartment in November 2007 due to losing my job.  I was 2 months behind on rent and still have not paid.  Today I pulled all 3 CR's and it was reported 4/08 on my credit.  There is no creditor information only original creditor info.  I can pay this off but would like to know if it will affect my credit postively or negatively since it is such a new account.  Should I send a PFD letter first or just pay it?  Any information will be greatly appreciated.

Thanks!

[cheddar]

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jennifer143 wrote:

I moved out of my apartment in November 2007 due to losing my job.  I was 2 months behind on rent and still have not paid.  Today I pulled all 3 CR's and it was reported 4/08 on my credit.  There is no creditor information only original creditor info.  I can pay this off but would like to know if it will affect my credit postively or negatively since it is such a new account.  Should I send a PFD letter first or just pay it?  Any information will be greatly appreciated.

Thanks!

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I'm not sure what you mean, "There is no creditor information only original creditor info."

Is this a collection account or is the OC reporting?

[jennifer143]

This is a collection account, but there is no contact information for the collection agency.

[cheddar]

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jennifer143 wrote:

This is a collection account, but there is no contact information for the collection agency.

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Unfortunately, paying it won't help your score one bit.  Once it's there, the damage is done until it is removed.  Although the older it gets, the less it will hurt.

That's why a PFD is always the best option.  If you pay it without a PFD, you have nothing to bargain with.  They will have no incentive to remove it.

Message Edited by cheddar on 04-29-2008 01:41 PM

[jennifer143]

I will definitely send a PFD.  Thanks for your help!

Message Edited by jennifer143 on 04-29-2008 01:43 PM