So I have 3 collections on my Equifax report. 1 Is from Amcol, which from what I have read is really good about working with you. the other 2 are from SCA. SCA told me they do not do PFD at all. So my question is this, One account is from May 2013 for 50 bucks and the other is for 600 from June 2010. I'm not worried about getting a judgment on either and it seems like a collection is a collection is a collection wether its paid in full, settled for less than half or unpaid. Do I leave them as is or do I pay, and yes they are reporting every month. Thanks in advance.
You SHOULD be worried about judgment very much, once in your record it would not come out even if you pay till 7 years or so!
To my experience one thing that hurts the most in CR and CS is open collection!
Having said that, I had couple of collections that I tried to do PFD(utility) and they kept saying they would not do it, this went on for couple of months till they offered me settlement for 60% of the amount. I then called them and agreed to settle or I pay the full but they have to delete!
They agreed and removed it last week 
Hmmm maybe ill try that, settle or pay in full for the PFD, I guess either way its a win win.
@dledo wrote:So I have 3 collections on my Equifax report. 1 Is from Amcol, which from what I have read is really good about working with you. the other 2 are from SCA. SCA told me they do not do PFD at all. So my question is this, One account is from May 2013 for 50 bucks and the other is for 600 from June 2010. I'm not worried about getting a judgment on either and it seems like a collection is a collection is a collection wether its paid in full, settled for less than half or unpaid. Do I leave them as is or do I pay, and yes they are reporting every month. Thanks in advance.
The first thing you want to do is see what the SOL laws are in your state. The 2013 CA I can tell you is still within any states SOL so I would be paying it off even if you cant get the PFD and switch to GW letters. You also want all these to stop updating monthly so your Fico score can begin to rise. On the older collection if its past SOL you can negotiate for a lower settlement than 100%.
So once is paid off, it wont continue to report each month? I know it will still show but if its not updating every month is that where the aging process helps?
@dledo wrote:So once is paid off, it wont continue to report each month? I know it will still show but if its not updating every month is that where the aging process helps?
Yes and yes once it stops reporting monthly it can begin to age in Ficos eyes which will lead to higher Fico scores over time. If you cant get the PFD you would begin a GW letter campaign after its reporting paid off asking that the entire TL be removed. http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...