OP, please don't make multiple topics of the same thing. It makes it confusing for other members trying to read and get information, as well as those trying to respond and help you.
@tayloreat713 wrote:It wasn't on purpose, but thanks.
Hmm so your other thread seems to have disappeared, and I don't know if you happened to read it before it got moved/deleted, but my advice is as follows:
1. Yes, you can pay off the remaining settlement and ask for a PFD, though getting one from an OC is extremely difficult.
2. You mentioned they have been updating the balance with your monthly payments being deducted from the outstanding balance, which is the way they should be doing it. They won't have your settlement balance reflected as the current balance. What they would do is, if you opt for option #1, they will first deduct the settlement amount from the outstanding balance after one cycle, and then update to zero balance after a second cycle, along with adding a comment that it was "settled for less than full balance."
@tayloreat713 wrote:Ahh, I think I delete my second post as it was posted in error.
As a recap, if I pay off my settlement with Cap1 it will be difficult to get them to delete it from all three reports. Secondly, if I pay off the remaining portion of my settlement it will take them 2 cycles to report that change to my reports.
It just feels like I am being double hit, its already listed as a charge off balance is also hurting my DTI...is that correct?
Thanks,
Elaine
Yes, unfortunately COs are as bad as it gets, next to BK. But you got it. Paying will help your scores by reducing that utilization hit and fixing DTI, removing is next to impossible, and the update will take a couple of cycles.