##### First Premier CO Settlement Question

10-31-2012 07:06 AM

I have a First Premier Charge Off from 2009 for $419. No CAs on my report for this debt.

I have written them twice for a PFD, but all I got was 2 form letters stating info reporting correctly, etc etc etc

Yesterday I called them and offered full payment of the $419 for PFD or just Paid as status. Refused. They came back and offered to take $250 (original limit) as a settlement. I told them I would call back tomorrow.

Is a paid CO better than what I have? Will it re-age this account, making it stay longer on my report?

Should I pay and them just keep GW to death for the next 4 years?

Any suggestions will be most appreciated!

**2014 Goal ....... 700 Club**

*Garden Club as of 8/7/2014*

-----------------------------------------------------------------------------------------------

*repairing credit takes time......be patient.*

08/19/12 FAKO Scores - TU 560 EQ 545 EX 545 AVG 550

07/24/14 FAKO Scores - TU 720 EQ 666 EX 709 AVG 699 (increase of 149 pts)

**07/28/14 MYFICO Scores - TU 701 EQ 682 EX 706**

##### Re: First Premier CO Settlement Question

10-31-2012 07:13 AM

Well,

The CO balance is being factored into your utilization which kills your score.

If they won't PFD, then settle with them and cut your losses with them for good. In the end, the utilization drop will help your score but you'll still have the CO.

Starting Score: EQ 511 TU 552 EX 545 8/29/2012

Current Score: TU 705|EQ 690|EXP 698 (FICO)

What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $2.1k; NFCU Cash Rewards $22K; AMEX BCE $18k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k; Chase Freedom $4.5k

Goal Score:

**700 across the board.**

Take the FICO Fitness Challenge

My Journey

##### Re: First Premier CO Settlement Question

10-31-2012 07:26 AM

if I pay this, will the payment change the date it drops off?

**2014 Goal ....... 700 Club**

*Garden Club as of 8/7/2014*

-----------------------------------------------------------------------------------------------

*repairing credit takes time......be patient.*

08/19/12 FAKO Scores - TU 560 EQ 545 EX 545 AVG 550

07/24/14 FAKO Scores - TU 720 EQ 666 EX 709 AVG 699 (increase of 149 pts)

**07/28/14 MYFICO Scores - TU 701 EQ 682 EX 706**

##### Re: First Premier CO Settlement Question

10-31-2012 07:47 AM

It's possible that it can but it hasn't for me.

Starting Score: EQ 511 TU 552 EX 545 8/29/2012

Current Score: TU 705|EQ 690|EXP 698 (FICO)

What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $2.1k; NFCU Cash Rewards $22K; AMEX BCE $18k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k; Chase Freedom $4.5k

Goal Score:

**700 across the board.**

Take the FICO Fitness Challenge

My Journey

##### Re: First Premier CO Settlement Question

10-31-2012 07:52 AM

Should you pay it, it shouldn't reset the clock for the CRTP. Of course a PFD is always preferable, but First Premier doesn't promise much luck on that. I would suggest to pay it, or settle if if you wish. And then start to GW it. Do you know when the DOFD is so you will know when it would fall off?

Starting Score:

**504**

July 2013 score:

**EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013**

Goal Score:

**All Scores 760+, Newest goal 800+**

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013

EQ:809 TU 777 EX 790 Now it's just garden time!

##### Re: First Premier CO Settlement Question

10-31-2012 08:04 AM

DOFD is 9/1/2009. According to TU, this falls off 8/30/2016.

**2014 Goal ....... 700 Club**

*Garden Club as of 8/7/2014*

-----------------------------------------------------------------------------------------------

*repairing credit takes time......be patient.*

08/19/12 FAKO Scores - TU 560 EQ 545 EX 545 AVG 550

07/24/14 FAKO Scores - TU 720 EQ 666 EX 709 AVG 699 (increase of 149 pts)

**07/28/14 MYFICO Scores - TU 701 EQ 682 EX 706**

##### Re: First Premier CO Settlement Question

10-31-2012 10:22 AM

First Premier reports the balance in your utilization. I was in the same boat and PIF, they updated CO/Paid in Full; score increased by 15 points.

Lender Pulled: (12/05/2012) EQ 635, TU 677, EX 641

Lender Pulled: (02/20/2013) EQ 667, TU 661, EX 648

MyFICO Pulled: (05/30/2013) EQ 712, TU 685, EX 686

Finally Hit the 700's as of 06/05/2013!!!

##### Re: First Premier CO Settlement Question

11-01-2012 12:55 PM

ok, settlement seems best option.

**2014 Goal ....... 700 Club**

*Garden Club as of 8/7/2014*

-----------------------------------------------------------------------------------------------

*repairing credit takes time......be patient.*

08/19/12 FAKO Scores - TU 560 EQ 545 EX 545 AVG 550

07/24/14 FAKO Scores - TU 720 EQ 666 EX 709 AVG 699 (increase of 149 pts)

**07/28/14 MYFICO Scores - TU 701 EQ 682 EX 706**

##### Re: First Premier CO Settlement Question

11-01-2012 01:11 PM

+1 Then start sending them GWs. You might get lucky.

Starting Score:

**504**

July 2013 score:

**EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013**

Goal Score:

**All Scores 760+, Newest goal 800+**

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013

EQ:809 TU 777 EX 790 Now it's just garden time!

##### Re: First Premier CO Settlement Question

11-02-2012 06:47 AM

ok, did the deed - $250 settlement paid this morning.

once the CO shows a balance of $0, I wil start the GW process. A letter every two weeks?

**2014 Goal ....... 700 Club**

*Garden Club as of 8/7/2014*

-----------------------------------------------------------------------------------------------

*repairing credit takes time......be patient.*

08/19/12 FAKO Scores - TU 560 EQ 545 EX 545 AVG 550

07/24/14 FAKO Scores - TU 720 EQ 666 EX 709 AVG 699 (increase of 149 pts)

**07/28/14 MYFICO Scores - TU 701 EQ 682 EX 706**