I had another thread under credit cards and got great advice on how to contact Cap 1 (back door #) regarding a 5-05 charge off.
As mentioned in that thread, NCO is the CA but another forum member said they paid direct to Cap1 even after turned over to collection. Equifax shows a last payment of 08-04 which is not correct. TU shows will delete from record 06-10 which would indicate last payment in '03 which is what I have.
I want to get this CO off my records as it's my last unresolved issue...all others paid off in '05. Cap1 was the only one of 3 that would not work with me on a payment plan or settlement at that time so I focused on my other 2 and paid them off. Now this debt is up to $1800 on a $200 CL card!!
However, I now find after using the Myfico simulator that if I pay down my 2 existing cards that are at about 80% my score jumps way up. Currently 622, simulator shows it would go to upper 600s or over 700 depending on amount paid.So I'd rather pay on those cards and worry about Cap1 later, but not if I risk being sued, etc. Not to mention they keep adding interest so the longer I don't pay it the worse it gets.
I'm looking to refi my mortgage in a few months so a higher score is really needed. Have 10 satisfactory accts (2 car loans-paid off, store cards, 2 credit cards and mortgage--tho mortgage was new in Oct and not yet showing on report but is being reported per my mortgage co) and 4 adverse (one of which is Cap1 unpaid, the other 3 are paid and due to drop off 4/08, 11-08 and 10-09).
Anybody have any info as to how long I might have before Cap1 could go into suit or judgement or whatever?!?! If I put it off a little longer, it might be worth it to get the higher score.
thanks!
FICOS: TU 732(05-16-16) EQ '08 739( 05-16-16) EX 737 (08-17-16)
