@Anonymous wrote:
I have two nco collections totaling 170.00. These collections are reporting as open and update every month so that it looks like I always have 170.00 in delinquent payments. I know it usually doesn't help your score much to pay old collections (4-5 yrs), but in this instance do you think it would help? Any thoughts appreciated. Thanks.
Normally it doesn't help your score. You might try for a PFD, but NCO is notoriously consumer-unfriendly.
Considering the amount is small, it might be worth paying them off just to get the monkey off your back. Another point to consider is that sometimes paying off a collection can help you get credit cards and other lines of credit. Depends on whether a human being reviews the decision or not. I've seen posts from some who indicate that after collections were paid, they were approved for credit they'd previously been turned down for. I'm not going to say paying it off will wash your credit "sins" away, but I do think it helps, enough to justify 170 simoleons if you can swing it.
Wait for Tuscani, Noah_Brodie or NewWorldman to reply. Or try and PM (private message) them.