My question is when paying off old collection accts how do you want them to report this to your credit report? i have heard that some companies will remove completely! but also that can lower your score.
When you pay a collection, the note on the account changes to "paid-charge-off." This can actually lower your FICO, though the hit is usually short-lived. However, it won't help your FICO. Some lenders may view a paid charge-off less unfavorably than unpaid.
The better alternative is to go for a PFD (Pay for Delete), which means that the collection agency agrees to completely remove the file from your credit report. Get any PFD promises in writing, and read the fine print. Go for your most recent charge-off first.
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in a credit-scoring postnuclear Stone Age...