08-07-2009 09:26 AM
08-07-2009 09:29 AM
No, unfortunately just paying it will not remove it from your CR. It can stay the entire time permitted by law which is 7 - 7.5 years past the DOFD.
Also, paid and unpaid collections and CO are looked at the same by FICO.
Does this have a CA attached to it?
What is the DOFD and the SOL?
08-07-2009 09:31 AM
08-07-2009 09:35 AM
Yes you can ask for a PFD. They can say no. If they do say no they would have to update as paid charge off. If it is from the OC then paying it could gain some points because it will not be counted in your utilization any longer.
08-07-2009 09:37 AM
Some points would be GREAT right now.. I am going to PFD them and see what happens. So quick question-even though it was charged off- it was a credit card so it still counts toward my utilization? I want to make sure I have that right!
08-07-2009 09:38 AM
08-07-2009 09:59 AM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO