New Contributor
hammer192
Posts: 70
Registered: ‎07-06-2008
Re: Paying charge offs or not

I settled a charged off cap 1 account back in march. It was still with the cap 1 showing a balance of $587 after I paid the settlement amount of $1300.  After it finally reported a zero balance on my credit reports my TU score jumped 56 pts.  My EQ only bumped up 11 pts. I had 3 other charge offs that were with the OC's and each time my score was positively affected by them being paid.

 

I also had 2 charge offs that were with CA's. I settled both of them and neither negatively affected my scores. One was with Portfolio Recovery for 5,700 and the other was with Midland 4,600.  They still show date of last activity at 2004.

 

Since my Dola wasn't changed, does this mean fair isaac has been changed so as to not penalize people for paying there collections?