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Registered: ‎03-30-2014
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Verizon Wireless account

I have a verizon wireless account that has been in collections since 02/12. The balance on it is $1,096. I'm trying to rebuild my credit as I had to open up a lot of accounts at a young age. (I was 21 at the time the account closed with a new mortgage to worry about) That being said, I'm in a place where I can finally start paying off debts. Would it be benefical to my credit score to pay off the amount even now 2 years later and how would I go about starting the process? 

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Registered: ‎12-13-2013
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Re: Verizon Wireless account


trippin wrote:

I have a verizon wireless account that has been in collections since 02/12. The balance on it is $1,096. I'm trying to rebuild my credit as I had to open up a lot of accounts at a young age. (I was 21 at the time the account closed with a new mortgage to worry about) That being said, I'm in a place where I can finally start paying off debts. Would it be benefical to my credit score to pay off the amount even now 2 years later and how would I go about starting the process? 


It would only benefit you score wise if you get the deletion for paying it off, if not and it has not been updating monthly it will drop your score when the DOLA comes current to report the Paid Collection. I suggest you read up on DVs, (debt validation) which is what you would do first and PFDs (pay for delete) this is your last option.


EX Fico 08 Bankcard 08/16: 811 (+7) EX Fico 8; 783 (0)
TU Fico 8 08/16: 777(-3)
EQ Fico 8 08/16; 778 (0)

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