@Anonymous wrote:
In 2005, I opened an account with Dell to purchase a laptop and never made any payments on it. Here's some info regarding the acct:
Date of First Delinquency: 07/2005
SOL: 10 years
If I don't pay, the account will fall off my CR in 2012/2013.
My question is if I decide to pay/settle this account in 11/2010, will this stay on my report until 2012/2013 or will stay it on my report until 2017/2018?
What happens if the account falls off my CR in 2012 and I decide to pay/settle in 2013, does it come back on my credit report?
I would like to pay, just not sure how to go about it. Thanks in advance for any input.
Hello and welcome to myFICO.
Nothing can change the CRTP (Credit Reporting Time Period) for delinquent accounts so whether you pay this off ot leave it alone it will still disappear as it is scheduled to do. If you pay it off after the CRTP expires it cannot and will not be put back on your reports. Be aware though that even after something is deleted from your report collection efforts can theoretically go on forever.
Since you say you have the funds to pay this you can offer Dell what is called a PFD= Pay for Delete. You try and get a written agreement with them that in exchange for your payment that they request from the CRA's early removal of all negative entries associated with this account.I menation all negatives because you probably had late payments on this account before it was charged off.
They certainly are under no obligation to accept a PFD but it does happen. You can do a search on this site for examples of PFD letters and stories of other posters experiences with this.
If they say no to your PFD letter then come back here for other suggestions. Good luck to you.
