Should PIF or settle with Portfolio Recovery?

[rickanthony82]

Ive tried everything with this company. Which would work out better PIF or settling? Also, this amount is contributing to my utilization on myfico. I was thinking if i pay in full i may see a score bump. Any suggestions? Thanks in advance.

Credit Account

Portfolio

Status as of Date opened [?] Date of last activity [?] Largest past balance [?] Account Type [?] Account holder [?] Industry

Feb, 2014

Jun, 2013

Aug, 2011

$463

Open Account

Individual

Factoring Companies

Descriptions

• Consumer disputes after resolution
• Collection account

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$463	120+ days past due	$463

Seven year payment history 30 days late 60 days late 90+ days late

0 times

0 times

0 times

[HigherFico]

Mine says the same thing with about a month of and $1000 added on. i really want to get this account closed but dont want to have to pay out so much money. Paying in full looks better to those that will review your credit report. I'm not sure if paying in full will give you a jump or not I think it depends if it factoring into your utilization. But i know it doesnt matter whether collections are paid or not  because the damage is already done. What would be best is if the entire tradeline is deleted. I want to try a pfd with them. I did have them removed from  one of reports somehow...

hopefully some of the experts will chime in

[rickanthony82]

Its weird. When i add the amounts up on myfico it is definetely a factoring account but i dont understand how? From reading here a collection account shouldnt be factoring.

[HigherFico]

I've read they they can report as a factoring company since they purchased the debt.ba factor is one who purchases accounts receivable from a creditor and the factor takes over the debt

[rickanthony82]

Ok. I see. So i would probably see a bump by Paying in full.

[xosamandaxo]

ALWAYS try pay for delete. 

I would only PIF if i was paying the OC. Especially if lenders requested me to, etc.

 I do not think youll get any kind of increase by paying. The best increase will come from a deletion. Whether it's paid or not, it's still a negative

[rickanthony82]

Ive tried PFD they will not budge.

[NWintellectual]

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@rickanthony82 wrote:

Ive tried PFD they will not budge.

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Settle for as low as they will go then GW the heck out of them afterward (at least that's my plan).