Rebuilding Your Credit

[kornut11]

I have one old CC that is a charge off.  I am wondering what the difference in impact on my credit score it would be between the three options I have:

Trying to settle the account (i realize this will be reported as such, but is it better than having a charge off with a balance?)

Paying in Full

Pay for Delete (I've sent PFD letters but gotten no response).

I realize that PFD would be best, but if that option disappears, what would the impact on my credit scores be for the other two options?

thanks for any help offered.

[demed]

a paid collection scores EXACTLY THE SAME as an open collection

the option to PFD is always there - it's just up to the CA to decide to accept. the closer it gets to SOL or CRTP terms the easier it gets.

[shalane85]

I was dealing with a collection company that was willing to settle bu they said that it was against the law for them to delete the info from my credit file. I didnt believe what they were saying since every collection I've ever had in the past would delete from my report without me having to ask. So what I did was contact the OC and told them that if I pay off the account would they delete the file. They assured me they would and sent it in writing. So that may not work with every OC but its worth a try.

[kornut11]

I am actually dealing with the OC.  That is why I am unsure if settling with the OC is the same as settling with a CA in regards to the impact on my scores.  I am also trying to figure what the impact would be with PIF with this OC.

How did you contact your OC?  I've sent a PFD letter to this OC, but not gotten a response.  I have also tried faxing them a PFD letter, and I have still had no response.  I am wondering if I should call them or not and present a verbal PFD and have them fax me a letter confirming a PFD.