Applied for new CC - found out I had poor score from issues in 2013 w/ Portfolio and Capital One..

[Caardvark]

PRA's policy is to update the debt as "PAID" within 10 days. They will subsequently request deletion of the tradeline within 30 days. It took 35 days for the last CRA (EQ) to delete mine. And, I've yet to see anyone see a deletion earlier than 28 days.

TLDR - Be patient. It will happen

Edited to reflect PRA updates as PAID in 10 days (I hads a typo there)

[eddiechi]

If I want to pay of the $468 Portfolio Collections should I just contact them using the info I found in CreditKarma with the Portfolio phone number under "Creditor Information"  ....  for some reason I do not have any collection notices from them.   

[FireMedic1]

Personally I wouldnt trust anything from CK. They probably make money using their number from their website. Here PRA's info. Notice or not. Its still on your report ans is hurting your score. Get rid of it.

Call an Account Representative toll-free at 1-800-772-1413 during our hours of operation:

• Monday–Friday 8am–11pm EST
• Saturday 8am–8pm EST
• Sunday 11am–10pm EST

 Your account will be considered paid-in-full or paid-in-full for less than the full balance after your final payment is successfully posted. Within approximately 30 days of your final payment successfully posting, we will request the credit reporting agencies delete the PRA tradeline related to your account from your credit bureau report.

[eddiechi]

That creditor information was different from what CK provided...  so I went to the Portfolio web page and was able to login using phone# and last 4 of SS and pull up my acct and pay it off with debit card......   interesting disclosure before I paid  ....  

"The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it. Depending on the laws of your state, certain actions, such as making a payment or promising to pay the debt, may restart the time period for the filing of a lawsuit against you; but even if that were the case, we still will not sue you on this debt."

So that is paid and then I went to CCT to do a CB Pull with the $1 offer......   Fico 667     668    TU 671

I did notice the CB's showed 2 late payments from 2014 as opposed to the 1 late I found in CK.....   The Amazon/Ge Capital acct that led to the Portfolio collections doesn't show up on CK .........   So it looks like I have to try and GW both Cap One and Amazon/GE Capital but I think they changed to Amazon/SYNCB at some point....... it's listed as a late 30, 60, 90, 120, 120, FP from July 2013.....   I'm not sure if that is something that can be or should try to address now since the collections is paid off?

[FireMedic1]

Hmmm. I'd wait and see what updates completely in 30 days. If its still there then GW Sync. Not too many GW success stories with Sync compared to other CCC's. Maybe someone can post any winners from Sync. Congrats on getting that debt over and done with.

[Anonymous]

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@eddiechi wrote:

That creditor information was different from what CK provided...  so I went to the Portfolio web page and was able to login using phone# and last 4 of SS and pull up my acct and pay it off with debit card......   interesting disclosure before I paid  ....  

"The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it. Depending on the laws of your state, certain actions, such as making a payment or promising to pay the debt, may restart the time period for the filing of a lawsuit against you; but even if that were the case, we still will not sue you on this debt."

So that is paid and then I went to CCT to do a CB Pull with the $1 offer......   Fico 667     668    TU 671

I did notice the CB's showed 2 late payments from 2014 as opposed to the 1 late I found in CK.....   The Amazon/Ge Capital acct that led to the Portfolio collections doesn't show up on CK .........   So it looks like I have to try and GW both Cap One and Amazon/GE Capital but I think they changed to Amazon/SYNCB at some point....... it's listed as a late 30, 60, 90, 120, 120, FP from July 2013.....   I'm not sure if that is something that can be or should try to address now since the collections is paid off?

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Thirty day late payments that are 3 and 4 years old are no longer effecting your score they are only a concern on a manual review of you credit report. Get the collection removed and you will gain pretty much all the points available to you at this time.

[eddiechi]

Thank You, I wasn't aware of that fact and have no manual reviews forthcoming, just heading to the garden for a while now.

[eddiechi]

Ok, according to CK - Portfolio last reported on Jan 8 so it will be anxious to see if anything is changed after Feb 8 or after March 8.  I appreciate your input.  Btw- what does  "RIP Starters" mean?

[FireMedic1]

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@eddiechi wrote:

Thx for the reply FireMedic1, I have seen a lot of valuable posts from you throughout the threads here....   I have no issue paying off the PRA but Firefighter's post has raised one of my concerns.....  at first I didn't know there was a distinction between PFD or PIF and how to make sure it is reported to my advantage and not "restart" the clock which is what some friends told me to beware of.........     I used Discover Scorecard to find this  ----        Fico 8 = 660       Total ACCTS = 14    Lenght of credit = 18yrs   Inquiries = 3  Missed Payments = 0 and Utilization = 29% .......

Util will be back under 18% before the next statements cut with a goal to get it under 8% but a little concerned that I zero balanced too many CC's after some were stupidly carrying a 80-90% balance routinely

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Thanks for the compliment. Dont worry about for now what happens to the cards. Your becoming debt free and you cant put a score on that. Well maybe. I'll give ya a 850 for working hard and getting out of debt! Beat that FICO!!!!!!!

[eddiechi]

I wanted to thank everyone that chimed in and offered suggestions for my issues, I'm in the middle of putting a spreadsheet together of data points on how my scores changed over the last 2 months from 1. paying of portfolio collections 2. decreasing util to under 8%......

just curious to thoughts on having 1 card at 80-90% util and the rest at 0 .....  or 7+ cards under 8%