Response to PFD Request

[Anonymous]

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@Anonymous wrote:
If you can just pay it before it gets to collections then you have two derogatory accounts. Chase updates monthly and once paid it will stop and you score can start recovering.

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Thank you and thanks to everyone else who replied. 

I'm going to pay in full and mitigate the damage.  It feels good to have my head out of the sand and move forward.  I do NOT need another collection.  I''ve got about 5 already.  

I'm kind of surprised that Chase has kept it all this time. Anyone have insight on why that is?

Not that I'm complaining

[Anonymous]

Nothing resets the 7 years. SOL can be reset in certain cases, but not the credit reporting time period.

[Anonymous]

Just be careful. A CO sucks but a CO + a CA sucks even more! If you can PIF, I would. Especially if you plan on applying for credit in the next while.

[Anonymous]

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@Anonymous wrote:

Just be careful. A CO sucks but a CO + a CA sucks even more! If you can PIF, I would. Especially if you plan on applying for credit in the next while.

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I know, I wish I had paid them when I had them on the phone.  I was just being defiant for some reason.  (I just can't help it sometimes)  I tried to call them today to PIF but they don't operate on Saturdays.  I'll pay them Mon if they are open.  

[MrsCHX]

Pay it and ask for deletion later. Not in the same transaction.

If you want a mortgage you will have to pay it regardless. It's a relatively small amount...I would take care of it and then work on goodwill deletion after the fact.

[Anonymous]

Ok, for what it's worth....

I've 'heard' of paying the freaking $300 bucks then waiting a few months and then disputing it with the CRA and since the debtor has been Paid...they don't give a crap about responding to a verification process.

So the delete will happen anyway (or so I 'heard') even if it doesn't happen the 1st time, it Will come off B/C the original debtor has no real dog to even care to fight....and even if they did, the 'comfusion' over what type of account

Paid vs unpaid, now vs then makes it less WORK for the CRA to just delete the darn thing ....again or so I 'heard'😇

[Anonymous]

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@Anonymous wrote:
Ok, for what it's worth....

I've 'heard' of paying the freaking $300 bucks then waiting a few months and then disputing it with the CRA and since the debtor has been Paid...they don't give a crap about responding to a verification process.

So the delete will happen anyway (or so I 'heard') even if it doesn't happen the 1st time, it Will come off B/C the original debtor has no real dog to even care to fight....and even if they did, the 'comfusion' over what type of account

Paid vs unpaid, now vs then makes it less WORK for the CRA to just delete the darn thing ....again or so I 'heard'😇

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That is a good point.  It's a CC from a big bank, though.  I'm going to try that route just for fun and let you all know how it goes.  I feel like a big bank would be more likely to verify though, just to keep everyone honest. 

[RobertEG]

"I've 'heard' of paying the freaking $300 bucks then waiting a few months and then disputing it with the CRA and since the debtor has been Paid...they don't give a crap about responding to a verification process."

That is not a valid procedure.  There would be no basis for a dispute.

Any dispute requiries an assertion of some specific inaccuracy in reporting.  Once paid, there is no more debt upon which to assert an inaccuracy.

The debt will be updated to $0.

Any dispute could be dismissed without any investigation as being frivolous or irrelvant.  There would be no need to verify, it would be dismissed.