Does Paying for Collections Increase Score?

[Burned2manybridgesB4]

Since you're using the coded version of your CR, I'm willing to make a guestimate, and bet my life on it that you have two different collection agencies trying to collect, and the larger amount is the most recent. DV.

[Burned2manybridgesB4]

Two CAs can be on your report for one debt, but one has to be at zero balance, and only the current collector can show a balance.

[Anonymous]

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@Burned2manybridgesB4 wrote:

Two CAs can be on your report for one debt, but one has to be at zero balance, and only the current collector can show a balance.

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  If a debt is sent back to the OC, the CA has to delete their TL.  If a JDB transfers or sales their debt they have to delete their TL.

Only one CA can actively collect.  Just being on your CR is considered collection activity.

[Burned2manybridgesB4]

WHOOOPS...my bad. I'm done for the day.

[rebuildingincb]

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@Anonymous wrote:

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@Burned2manybridgesB4 wrote:

Two CAs can be on your report for one debt, but one has to be at zero balance, and only the current collector can show a balance.

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  If a debt is sent back to the OC, the CA has to delete their TL.  If a JDB transfers or sales their debt they have to delete their TL.

Only one CA can actively collect.  Just being on your CR is considered collection activity.

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I called Convergent this morning, they are sending me validation along with an offer to settle. If it is valid and they offer to settle for 50% will it look bad if I take that? I asked for PFD they said they don't do that.

[Anonymous]

When it comes to a CA, FICO scores them the same, paid, unpaid, settled.  However, on a manual review the settled will look bad to a lender/creditor.  Unless you can get the CA to have your CR read paid in full.

If they don't do PFD maybe they will remove with a GW letter.