topic Re: Would it hurt or help my score to pay a collection account and let them mark as paid ? in Rebuilding Your Credit

Would it hurt or help my score to pay a collection account and let them mark as paid ?

getit2gether — Tue, 06 Mar 2012 18:45:25 GMT

So I have been told by this collection agency that will they mark account as settled/paid once I pay.

I would like for the account to be deleted not marked as paid. But they said they cant do that.

???

Will paying this help or hurt my score if they report it this way?

Re: Would it hurt or help my score to pay a collection account and let them mark as paid ?

Treysdaddy08 — Tue, 06 Mar 2012 18:46:43 GMT

It would do neither. The collection account will still report as a collection, thereby having no affect on your score. Haven you sent them a PFD letter? How old is the collection?

Re: Would it hurt or help my score to pay a collection account and let them mark as paid ?

Anonymous — Tue, 06 Mar 2012 18:52:57 GMT

If they say they don't delete for pay, you may have luck later with a GW letter.

Re: Would it hurt or help my score to pay a collection account and let them mark as paid ?

getit2gether — Tue, 06 Mar 2012 18:55:22 GMT

I've sent at least 5 letters but they have not responded to any of them.

The account is 110 days old per the collection agency (today)

So its hurting me really bad. I have to get it removed.

And I read that FHA qualifications are changing as of 4-1-12. As of the 1st, they require you to pay any collection account over $1,000

Re: Would it hurt or help my score to pay a collection account and let them mark as paid ?

Treysdaddy08 — Tue, 06 Mar 2012 20:28:42 GMT

How much is the collection? What is it for? Work is the original creditor? Do you dispute the debt?

Re: Would it hurt or help my score to pay a collection account and let them mark as paid ?

getit2gether — Tue, 06 Mar 2012 21:45:43 GMT

Its for $1278. Tmobile is the OC

Re: Would it hurt or help my score to pay a collection account and let them mark as paid ?

pizzadude — Wed, 07 Mar 2012 00:11:28 GMT

You definately won't get a FICO score boost from paying the collection ~ getting it deleted is really the only thing that would help boost your FICO score.

I'd keep trying with the PFD offers but if you really have to take care of it for your mortgage financing then you might have to try GW.

Re: Would it hurt or help my score to pay a collection account and let them mark as paid ?

Booner72 — Wed, 07 Mar 2012 15:17:55 GMT

Did you DV this?