@beegeez wrote:
This is likely answered somewhere in this forum, but I wasn't able to find anything specific to my situation. One of the OC's showing on my credit report is First Premier Bank, but they sold the debt to Arrow Financial Services. Both are listed as collection accounts. I've contact Arrow via DV and PFD letters, but the First Premier Bank account is the one showing 3 late payments. Do I contact First Premier Bank with a GW to remove the late payments (or the entire account?) or will it get removed if I get Arrow to remove the collection account? I'm a newbie to this forum so forgive me if I didn't follow forum protocols exactly. Thanks for the help.
Welcome to the forums! You are doing just fine.
I'd suggest reading the following:
Common Abbreviations
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.
I take it that Arrow (CA) is the only one reporting a balance? If so, Arrow owns the debt and the only thing you can do with them is do as you did (DV, then a PFD if they verify).
Now handling an OC can be tricky. If this TL doesn't help your overall history or your AAoA, then it wouldn't hurt to zap it by requesting a deletion via a GW. If it does help your overall length of history and AAoA, then you wouldn't necessarily want it deleted because of the loss in history and potential score drop. I had First Premier and had one 60 day late reporting. I asked that they delete the TL and they did. My score dropped because it was one of my oldest accounts.
If Arrow opts to delete because of an acceptance to a PFD, then the OC can still report. One doesn't have anything to do with the other.
