FICO Score Question

[Anonymous]

I have two accounts that I don't know which direction to go with.  What would be the best action pertaining to my Fico Score?

Account # 1 - Account is a old medical bill for $ 153.00 that goes off my account in 2 years.  Should I pay it and it then stay on for another 7 years or just let it die after the two years?  Which is best for the Fico Score?

Account # 2 - I was an authorized user on a credit card my x-wife and I had together.  The payment has always been on-time and the report shows a credit limit of $3800.00.  Two of the three credit agencies have not updated the record since 2002 and one if still showing a balance on the card.  Whatis the best course of action for my Fico score?  Get it removed, or leave it alaon, except the one showing current activity?

Appreciate the info. 

[Anonymous]

My advice would be to leave the collection account alone... don't pay it. Paying it will make it really recent and drop your score. I'd be patient and just let it fall off in another 2 years. Old history counts for much less.

Regarding the second item, I'd also leave it be unless there's a chance the xwife would charge it up and result in a high debt-to-credit utilization rate. If there's no risk of that, then just leave them sit is probably best. Although closing a really old account (if still open) won't necessarily hurt that much. If it's already closed and shows good payment history, then do not dispute it at all---leave it on your report.

[Anonymous]

If you pay it off it will not remain on your report for an additional two years.  The 7 years begins at the date of delinquency.  The downside is that if you pay it off, it may cause your other scores to go down.  FICO has fixed the glitch in the system that penalizes consumers for making old wrongs right but the same cannot be said of TU or Exp.

I paid off three medicals but now TU reports that I have recently established collections because the date of last activity changed.  Luckily they are all slated to fall off this year

[Anonymous]

Thanks so much for your advise.  I really appreciate it.