Hi all.
I was looking for some feedback regarding a collection account I paid a little over 5 years ago. This is the only collections account on my report. I know this stays on for 7 years, but I was wondering to see if it would be worth it to do a GW to appeal to the creditor to remove this a bit early. I am not sure how much having this one collection is influencing my score, but anything would help right now. It was a bank account that overdrafted when I was 19. I was on a payment plan but couldn't keep up with it and it got sent to collections. I paid it off almost immediately around tax time-which was shortly after this got sent if I am remembering correctly. I wish I had been a little more diligent with it, but I had rent and bills and I was the only income in the household at the time- as well as being a full-time student. Automatic bill pay with lack of funds got me in trouble. Lesson has long since been learned.
As always, appreciate the feedback. If it isn't worth it, or resets the 7 years, or anything like that- please let me know not to do it. I tried to search the boards for guaranty gw letter but couldn't find much.
TY
(I copied and pasted this- it reports on all three, that is why it is in triple text).
COLLECTION AGENCY 668YC52465 Prof Pl Svc Professional Placement
ORIGINAL LENDER Guaranty Bank Best Bank 08 Guaranty Bank Best Bank Guaranty Bank Best Bank
ORIGINAL BALANCE $452 $452 $452
CURRENT BALANCE $0 $0 -
STATUS Paid Payment after charge off/collection Paid account/was a collection account, insurance claim or government claim or was terminated for default
DATE ASSIGNED Feb 15, 2012 Feb 15, 2012 Feb 15, 2012
ACCOUNT NUMBER XXXXXXX XXXXXXX XXXXXXX
ACCOUNT HOLDER Individual Individual Individual
DESCRIPTION - Paid collection
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