First see if they would except pay for deletion! With 50% that is. Avoid given them money unless they remove the collection completely.
Also if you can provide more info on collection and the collector it would be helpful.
@CYBERSAM wrote:First see if they would except pay for deletion! With 50% that is. Avoid given them money unless they remove the collection completely.
Also if you can provide more info on collection and the collector it would be helpful.
@Society1 Yes, try to offer a payment in exchange for deletion of the entire collection.
As for completely avoiding payment unless they agree to delete - I'd be bit cautious and consider the age of the debt before going that route.
If the collection only has a few months - maybe a year - left of the 7 year reporting statute before it drops from your reports, then fine. But, if it's due to remain longer than that you may want to consider paying it to avoid future updates. Open collections that are being updated regularly, or even sporadically, will keep your scores suppressed- paying them so they stop updating will allow the negative to age and hurt less so your scores have a chance to recover a bit. If the debt is still fairly new and/or still within the statute of limitations for debt collection in your state, you should absolutely pay or settle to avoid being sued.
Which collection agency is it?
@thornbackI paid off a charge-off (credit card, Best Buy/CBNA) in full and sent a goodwill letter as well but I never received any type of formal
feedback from them. Looked at my 3B and the payment status is different for all 3 reports (EQ 629 CO, TU 637 payment after CO, collection EX paid account/was a CO). Is there anyway I can get this account "deleted"? I keep getting mixed answers about this option and some of my buddies have said this is not even a thing. Will provide whatever details you or anyone else needs that would help you help me.
EX score by the way is 651. Just saw I didn't include that.
Any feedback you could provide @FireMedic1 would surely be appreciated as well. Just trying to better my financial health.
Another question I've had is should the CCU be 10% on my cards or should it be less?
MILSTAR 2389/CL 6500
NFCU Secured Card 664/CL 2250
CAP 1 PL Card 37/CL 1400
Credit One 0/CL 650
No installment loans
1 COLLECTION Progressive PIF
1 CO Best Buy/CBNA PIF
@sectionals wrote:MILSTAR 2389/CL 6500
NFCU Secured Card 664/CL 2250
CAP 1 PL Card 37/CL 1400
Credit One 0/CL 650
No installment loans
1 COLLECTION Progressive PIF
1 CO Best Buy/CBNA PIF
@sectionalsGW for CO's wont go anywhere. Kinda stuck with it. Nice its done and paid. No longer will it affect your aggregate util %'s and quit updating each month. It will fall 7yrs from the DoFD. Speaking of util %'s. Got to get those balances down. We say finances over FICO here. Pay down all that debt and leave 1 to report with <8,99%. Then PIF before the due date. Or AZEO as we say. Paying interest is $ you'll never see again. For instance your Cap1 card has a balance and you get cash back of 1.5%. But. Interest is 20%+ percent. Where'd your rewards go? Pay interest. We're a business with cards. We want profit like any other business. Pay interest for emergencies or unexpected incidents. It isnt free money. My fav saying is. If you cant pay it. Dont charge it. Make sense?
Makes sense. Wish I would've cared about my credit more when I was I younger but you live and you learn. Anything else I can do on my end @FireMedic1 @to rebuild faster aside from paying down my debt. Did what you said and dropped one of my card balances down from 2389 to 1609. Will be down to 657 (9% CCU) in about a week. NFCU card will be down to 202 (10% CCU) as well and total revolving debt will be at 8.4%. Prequal for all of NFCU's cards. At least that's what they stated in an email and wanted to apply.