02-05-2009 01:18 PM
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.
02-05-2009 02:46 PM
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.
02-05-2009 04:25 PM
02-06-2009 09:05 AM
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.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.