CMRE No PFD

[Anonymous]

Hi there,

I have a bll for 75 bucks at CMRE, they say they will update it as paid in full and that this will not negatively affect my credit. Is this true? My only option?

Thanks!

[RonM21]

Yes, if it is paid, it should not really hurt your credit.

[gdale6]

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@Anonymous wrote:

Hi there,

I have a bll for 75 bucks at CMRE, they say they will update it as paid in full and that this will not negatively affect my credit. Is this true? My only option?

Thanks!

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Welcome to the board

If they are not going to removed it but just update it, it will cause a Fico score drop if it hasnt been updating monthly already. Once it updates to paid I would begin a GW letter campaign asking for removal of the TL. As long as it remains on file it will affect your Fico score the good news is once it stops updating it will begin to age in Ficos eyes and over time your score will increase.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

[Anonymous]

A paid collection reporting on your credit files will have a derogatory effect and will hold your scores down for as long as it is on your reports.

[Anonymous]

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@Anonymous wrote:
A paid collection reporting on your credit files will have a derogatory effect and will hold your scores down for as long as it is on your reports.

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But over time it's no worse or no better than an unpaid collection.  Your scores take a dip as an updated reporting, but in the end it isn't more negative than having an unpaid collection.

[Anonymous]

This is true 2kids2cats, the OP was referring to a paid collection and I was addressing his/her concern only.