topic Re: account status changed? in Rebuilding Your Credit

account status changed?

tictoc — Tue, 21 Feb 2012 22:29:07 GMT

I recently disputed an acct with an OC that I had paid in full years ago, and today I got an alert telling me the acct was changed, the acct use to state bad debt/collection and had late payments on there, now the acct shows a $0 balance no lates and acct status as settlement accepted, is the better? Is it going to help my score?

Re: account status changed?

RobertEG — Tue, 21 Feb 2012 22:44:18 GMT

Hard to say. The reporting of a $0 balance is somthing that was required of them when the debt was settled.

The deletion of the prior derogs will help.

However, they have apparently reported a "paid for less than the full amount" special comment to reflect how you paid the debt.

That in itself is a negative comment, telling others that, in the past, you did not pay all of obligated debt.

Some feel that FICO separately scores a "settled for less" comment. I have seen no public statement to that effect, but the experiences of others seem to indicate that they do.

Re: account status changed?

tictoc — Wed, 22 Feb 2012 04:02:48 GMT

oh ok I'll check that out thanks!