just wonder and a ?

[Anonymous]

I was wondering why I always read that paying off an old collection without a PFD will drop your scores. I did a PFD with a CA in Sept of 2007 and they tried to avoid deleting the TL until I threating to sue them. Now from Sept of 2007 to Jan of 2008 they had on my reports paid charge off. when that first hit my CR my credit scores went up 10 points. They continued to climb fast every month. When they finally deleted it my scores did get a big boost. I'm tryin to see how to approach this other charge off($5300). I have not heard from them in 9 months. I have no idea what CA currently has the dept. I got 2 more years b4 the SOL is up. I'm trying to see should I DV the OC or just leave this alone and hope it falls off. The only thing I'm worried about is if I DV them and they sue would I still be able to try a PFD

[gdtobefree]

Having a Paid collection showing is just as bad as having a unpaid collection.

Your score will go up a little every month that you pay your accounts on time.

You can't DV an OC, you CAN ask for verification

Is this really your account?

If you DV the Collection Agency and they validate it and you are still within SOL YES they can sue you and then IT IS TOO LATE for a PFD.

Sometimes they will work with you on a payment plan as longs as you GET IN WRITTING that they will delete when they receive the last payment.

With that being said, that is a rather large amount, if you have it PFD it, if you don't make offers in PFD's starting at 10% of the amount owed, all they can say is no.

I will be honest with you, I HATE PFD'S I will avoid a PFD at all cost.

[Anonymous]

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l9ikjam wrote:
I was wondering why I always read that paying off an old collection without a PFD will drop your scores. I did a PFD with a CA in Sept of 2007 and they tried to avoid deleting the TL until I threating to sue them. Now from Sept of 2007 to Jan of 2008 they had on my reports paid charge off. when that first hit my CR my credit scores went up 10 points. They continued to climb fast every month. When they finally deleted it my scores did get a big boost. I'm tryin to see how to approach this other charge off($5300). I have not heard from them in 9 months. I have no idea what CA currently has the dept. I got 2 more years b4 the SOL is up. I'm trying to see should I DV the OC or just leave this alone and hope it falls off. The only thing I'm worried about is if I DV them and they sue would I still be able to try a PFD

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If within SOL and you DV, the day you get your validation back(if it is validated) you send out PFD. Have it ready. Maybe they will get it and consider it BEFORE they file summons.

Is there a CA listed on your CR for the CO? If not, you might PFD the OC.

But only take action(DV/PFD) during SOL if you are prepared and able to PIF in the case of a summons being issued to keep a judgement from getting awarded against you and then put on your credit.

I did send DV/PFD within SOL but in my case the amounts were MUCH smaller and I have the money sitting here ready to mail out if needed.

I don't know that paying without PFD will drop your scores or not, if so the reason I could think of would be that they would update the account and make it appear as a newer collection. Your score rises little by little just from keeping your accounts good and having no baddies added. At the time they reported the account as "paid chargeoff" did anything else happen that could have maybe given you the jump, such as inquiries not affecting no more, lates marks turned another year older, account age had a birthday, etc, etc.

gd is right, you can not DV a OC. They are not required to respond.

[Anonymous]

when the CA changed it to a paid charge off that was the only change. i just compared my old fico reports the other night to see what differences occurred during the time i had that paid charge off. I just dont wanna check my reports and see that they started reporting lates again. i might just write a letter to the oc and see if they're willing to deal. if not then ill do the verification the a pfd to the ca

[kball64]

I understand that a "paid" collection is just as bad as a collection, but I have paid off all of my collections that were listed as CO's on my CR's.  The last one was still showing a balance of $270 which I disputed and it was recently updated to zero and my FICO immediatley went up 10 pts.  So it did have a positive effect for my score.  Good luck and let us know what you do! I have some paid baddies on my report that I'm trying to remove with GW's.

[Anonymous]

l9ikjam, do NOT DV the OC. DV the CA! If you DV the OC all they have to do is send you their statement. DV'ing the CA they have to send EVERYTHING.

And threatening to sue a CA to delete the file? If the account is valid, and they decide to fight, you will lose. And be stuck with the court costs, etc. That's just silly imo.
Now if you feel justified, that's another matter. I'm not an attorney.

If you pull your CR's from either annualcreditreport.com OR from the CRA itself, you will get the details on the collection. And who the current CA is. That $5,300 charge off probably will not just go away, imo. The amount would justify taking you to court over it(again only my opinion).

I would start with DV'ing the CA. Then go from there.

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@Anonymous wrote:
I was wondering why I always read that paying off an old collection without a PFD will drop your scores. I did a PFD with a CA in Sept of 2007 and they tried to avoid deleting the TL until I threating to sue them. Now from Sept of 2007 to Jan of 2008 they had on my reports paid charge off. when that first hit my CR my credit scores went up 10 points. They continued to climb fast every month. When they finally deleted it my scores did get a big boost. I'm tryin to see how to approach this other charge off($5300). I have not heard from them in 9 months. I have no idea what CA currently has the dept. I got 2 more years b4 the SOL is up. I'm trying to see should I DV the OC or just leave this alone and hope it falls off. The only thing I'm worried about is if I DV them and they sue would I still be able to try a PFD

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[Anonymous]

I was just gonna get infomation verified with the OC then DV the CA. I  checked my reports on just about every site possible and the only 1 that is reporting is the OC. But some reason I got a soft from NCO a few weeks ago.

[Anonymous]

Sounds like a sleeper is about to wake up.

[Anonymous]

I have paid down 2 CC below 1/2 of their limits, do you know when most credit card companies would report this to the bureaus?

[Anonymous]

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tatlanta wrote:
I have paid down 2 CC below 1/2 of their limits, do you know when most credit card companies would report this to the bureaus?

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Different CCC report at different times of the month. Only way to be sure is call them and ask.