07-14-2013 12:48 AM
I have an account an account that has been charged off, put still placed in collections with American General Finance for sometime.
I haven't heard anything out of them in years. The last activity on the account was 11-1-2006. I have been patiently waiting for November 1st of this year to finally get this off my credit report.
I recieved an alert from my.fico that my score went up 10 points from 778 to 788 because the "Account Transferred or Sold". The old balance was $3,500ish. The new balance is blank.
So for my questiona...
What does this mean? Are they going to start hunting me down? I was really hoping this would all be off my report by November 1st. Does the 7 years restart because it was transferred?
Did my score go up merely because the balance went from $3,500 to blank?
07-14-2013 03:38 AM
They can resell the account 100 times and it wouldn't reset the CRTP clock, it will still fall off.
If this was a revolving account and the amount was factored into your util, then I could see a jump in score with it now reporting no balance.