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I am helping my friends improve their credit scores and reports.
One of my friends wants to do a PFD with a CA. If he is successful, and the CA deletes the TL, with the OC update to paid /charge off
If this is the case, will it then be removed because the FCRA states in new york any paid collections/charge offs are to be removed after 5 years.
This is how I read it, can someone confirm my theory?
Also in a 2nd sitiuation, he has a cap 1 charge off that is still being reported by cap 1 but has been sent to a CA.
The CA is not reporting.
If he paids the CA in a settlement, will cap 1 then report paid charge off and then come off because it is pass the 5 years for NY?