@Anonymous wrote:Hi folks! Since March 27th I've gone from having 7 open collections on my CRs to just 1 (woohoo!!!) with one that was already paid a few years ago. I was advised by the old paid one today that they sent a message to all 3 bureaus to delete the TL (another wooohooo!!). The last open collection account is with Pinnacle and is scheduled to fall off in Aug 2016. I want to pay it off even knowing that Pinnacle is adamantly against deleting their TL, but if I do so will that restart the clock on when this account is scheduled to fall off my report? I don't want to make any more mistakes now that I am so close to putting these collections behind me. What's the best course of action?
The DoFD set by the OC is an in stone date it can never be legally changed, any CA or JDB has to work from it as well so no there is no change of date to be removed. A rule of thumb to follow is if its updating monthly then settle it if its not then you have a choice and a word of caution is if you dont get the PFD and it updates to a Paid collection its going to cause a Fico score drop when it does.
Correct.
@Anonymous wrote:Thank you so much for weighing in! This account is updating monthly which is holding down my scores I believe. Since that is the case, a new status updated as "paid closed" shouldn't hurt anymore right?
@gdale6 wrote:Correct.
@Anonymous wrote:Thank you so much for weighing in! This account is updating monthly which is holding down my scores I believe. Since that is the case, a new status updated as "paid closed" shouldn't hurt anymore right?
THIS^
