WHICH DO I PAY OFF FIRST

Anonymous — Mon, 13 Sep 2010 04:02:34 GMT

First Premier Bank	XXXXXXXXXXXX	5/2009	$428	Charged off as bad debt	Details
First Bank Of Delaware /	XXXXXXXXXXXX	6/2006	$0	Charged off as bad debt	Details
First Bank Of Delaware/T	XXXX8473	3/2010	$444	60 days past due

WILL PAYING OFF THESE THREE BADDIES INCREASE MY SCORE IF I CAN GET A PFD?

Re: WHICH DO I PAY OFF FIRST

llecs — Mon, 13 Sep 2010 12:52:46 GMT

Generally speaking, paying off a baddie via a PFD will likely increase your FICO scores. Generally speaking, paying any CC CO without getting a PFD can result in an increase as well. In your case, both are true. If these 3 are the only three TLs you have (other than the CAs...I read through your other posts), then if you get a PFD for some of these, then your scores will increase a good deal. Even paying them off without a PFD would increase your scores, IMO, 50+ points (just a good guess).

Here's what you want to do to these three (assuming you have no other TLs, other than CAs, reporting:

1) PIF the $444 account ASAP!!! This is still current and not CO'd. If you pay it, and get it current, especially if it was opened in March, then you would save an account from a CO, you'd prevent a CA, and if still open, it'll continue to report for a long time.

2) For the $0 balance, if this was CO'd and was NOT paid, then you'll have to deal with the CA. If the CA is reporting, then send a DV letter. If they verify and you agree, then send a PFD to the CA. If the CA is not reporting, then contact First Bank of DE and ask them who owns the account. If they say they do, then PIF ASAP to avoid any CA from taking over.

If the $0 balance account is $0 because it was paid, then send the OC a GW letter asking them to remove any lates and/or CO or "settled" references.

3) For First Premier, you can try sending them a PFD. They are not know to accept PFDs. If ignored, then I would just PIF and then send the GWs at a later date.

_____

If the $444 balance is actually a closed TL and you have no open TLs, then my answer will be different.

I'm moving this to Rebuilding Your Credit for others...

Re: WHICH DO I PAY OFF FIRST

Anonymous — Mon, 13 Sep 2010 20:20:11 GMT

Please consider not typing in all caps - for me, personally, it results in my reading the first sentence maybe and then skipping over the rest of the post. Nothing personal, caps are just jarring to read.

topic Re: WHICH DO I PAY OFF FIRST in Rebuilding Your Credit

WHICH DO I PAY OFF FIRST

Re: WHICH DO I PAY OFF FIRST

Re: WHICH DO I PAY OFF FIRST