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I have a collection account with Alliance One that's 18 months old. I have sent a pay for delete letter with no response and I have called several times and been told no. If I pay it, will it help my credit score since it is a newer collection? I have called the OC and they won't pull it from collections. Should I pay it and see if they will delete with a goodwill letter? Or should I try a DV letter first?
If it has been more than 30 days since they sent dunning notice, a DV would be untimely, and they could choose to simply ignore it.
You will get mixed opinions on whether paying will affect your score. Payment or nonpayment does not, from what has been published by Fair Isaac, directly enter into scoring, but you will find numerous posts by those here on the site stating that they have seen a drop in score. You might see some inpact.
However, payment will satisfy the debt, and thus remove any obstacle of unpaid, delinqueent debt in future endeavors for credit.
Additionally, if still within SOL, it removes the threat of any legal action.
And it ends continued collection activities, which can, such as by way of continued inquries, continue to affect yoour score even after CR exclusion of the reported collection.
I had an old municipal fine that was sent to Alliance One Receivables (same place?). The court had a "pay online" feature that still allowed me to pay, so I did. About 3 weeks later alliance one was off my reports. No GW or PFD, in fact I never had contact with alliance one. Of course, your results may vary, but if you have the option to pay the oc without acutally talking to them, maybe that is something to consider (of course depending on the amount).
I have read several places to resend pay for delete letters but I have also called several times with no luck. I don't plan on trying to buy a home for a couple more years. I just want to do my credit repair now cause my score is only 566. I have several small loans that I have paid off with no late payments and I just want to get my credit score up. I don't think sending another letter is going to work at this point. Would it best to just go ahead and pay the OC? Maybe they will delete with a GW letter later.
Who is reporting?
Paying the OC won't remove the collection account.
I had 3 collections with them a couple of years ago for unpaid parking tickets that I'd forgotten about. I had to pay them in order to renew my registration. Once paid, I disputed them and poof, they were gone within a couple of weeks.
@beephlat wrote:I had 3 collections with them a couple of years ago for unpaid parking tickets that I'd forgotten about. I had to pay them in order to renew my registration. Once paid, I disputed them and poof, they were gone within a couple of weeks.
What was the basis for the dispute?