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HELP---closed account

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rchvmz
Frequent Contributor

HELP---closed account

I have a Verizon account(2017) that is closed with a balance---it says on my report its in collections, but is NOT showing up as a collection account, only closed with balance. Its ONLY showing up on my Experian report as well. I have paid off my other 2 collections and they have removed them---all 3 reports say 0 collections. I have called to discuss paying the account, and these guys aren't going less than 40%---

My question is how much will this account, being closed w/balance effect my score?.........I talked to Exp and they seem to think it will have very little effect on score-----whats ya'lls experience. 

Message 1 of 5
4 REPLIES 4
OmarGB9
Community Leader
Super Contributor

Re: HELP---closed account

It's hard to say exactly how much it's affecting you, as everyone's profile is different, and of course we don't know the algorithms. But for sure it's affecting if it's a charge off/account with a balance.


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Message 2 of 5
FireMedic1
Community Leader
Mega Contributor

Re: HELP---closed account

@rchvmzVerizon has their own internal collection dept. Verizon collections is a debt collection agency that stems from its parent company, known as Verizon Wireless. Once they exhaust all efforts to collect. Then they will sell it to EOS CCA Debt Collections Services. So act on it soon so it doesnt come down to a CA on all 3 reports.


Message 3 of 5
rchvmz
Frequent Contributor

HELP--CLOSED BUT NOT SHOWING A COLLECTION

I have a Verizon account that is closed and been sent to its internal collection department, so its NOT showing as a collection on any of my CRA's------I had 2 collections that were PFD---and are gone, so my CRA says NO COLLECTIONS---but Verizon shows closed with a balance of $884.00----I have called and they will except 50% as payoff, but will NOT delete the account, so it will show closed, and paid for less than full amount------NOW I researched and it looks like verizon is not going to delete it and I am reading where to pay it off, or settle for less will NOT effect my score either way----My BK just discharged, and I have several CC accounts in good standing That I was able to get in the last 12 months before the BK was over----so I have 12 months of perfect CC account activity------the discharge has not shown up on my file yet, and my CURRENT FICO 8 scores are---TU 653   EQ 703   EX  671 ---------so will paying off the Verizon account have ANY effect on my scores with the BK discharge pending -----

Message 4 of 5
FinStar
Moderator Emeritus

Re: HELP--CLOSED BUT NOT SHOWING A COLLECTION

@rchvmz

2 threads on practically the same subject have been merged into one. As your recent thread is in no way associated with Credit Card discussions, it has been moved/merged to the appropriate area of the forums.

Please refrain from posting multiple threads on the same topic in multiple forum areas as it's against our TOS User Guidelines and it can lead to confusion by the community.  As a best practice, provide an update on your older thread (as applicable) so that the community can provide you with some feedback on any latest developments. Thanks for your understanding on this.

 

-FS

Message 5 of 5
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