Discover Debt

[chaseraider85]

Hi All,

I currently have a past due balance of $837 from 2013 for a Discover Card that was closed. As it sits now it will fall of my credit reports next year. I called Discover to inquire into the debt and they explained that they do not sell there debts to Debt Collectors but instead hire debt collectors to collect for them. I asked the Customer Service Rep if they will do a pay for delete and they said no. I would like to get a boost to my score and am interested in paying this but im curious how this will effect my score. I show no collections on my CR's for this account but I do show the Balance on the Discover. Im assuming that I cant ask the Debt collector to do a pay for delete since they are not reporting on my CR and they do not directly work at Discover. At this point if I pay discover the $837 will that boost my score at all or will that just hurt it at this point? Im not trying to skirt the debt but im trying to get approved for a mortgage and I dont want to drop my score by paying.

[Anonymous]

if it isn't showing up on your report at all... paying it wouldn't hurt or help. And there's nothing to fall off your report


Are you sure it wasn't a charge off?

[chaseraider85]

Sorry yes it was a charge off.

[Anonymous]

Ok so in that case, paying the debt won't lower your score. What it will do though is put the account in a settled status and it will stop updating on your report. Your scores will start to recover over time but you won't get the full amount of points lost back until it completely falls off the report. But settling past debt looks better in the eyes of lenders.

Since they won't do a PFD your next option would be to do an early exclusion with each of the bureaus. Transunion 6 months early Equifax one month and experian 3 months out