Is it possible to get a PFD after I've already started making payments to CAs???

[Anonymous]

Hello,

I am very new to this.

I am staring to rebuild my credit after I have been such a fool for years with the attitude that I dont need good credit. Dumb, I know.

Anyway, I am literally starting from the bottom with FICO scores in the 400's.  I am really trying to be in the 700's in a year or so (Not sure if thats attainable).

I have 5 collections and the oldest is about 4 years old. The total is around $2600. I have already started payment plans with each individual account to pay the balances off. In addition to the collections, I was an idiot and allowed my Fed Student loans to default and Im sure this is a huge factor in my scoring.  I have already started the process of repayment and possible rehab of those loans to the Dept of Ed.

Unfortunatly, I didnt read any of the forums until after I have started making payments.

My question is, Is it too late to request that the CA do a PFD? I read on one of the forums that even if you pay your collections, your scores wont improve. Am I an idot for paying these collections if it doesnt matter for my score to improve?

I have a 3 year plan that requires my scores be in excellent standing and I will take any advice to help me reach that goal.

Please help!!

Thank you all in advance!

[gdale6]

Since you have already entered into an agreement what you need to do is ask if it can be amended to include deletion once its paid off in full. Sometimes they will sometimes not. The faster you pay it off the quicker your Fico score can improve as it stops the updating of the account and it can begin to age. Welcome to the board

[Anonymous]

Thank you so much! Everything Worked out with the phone call.

Im Excited to see those fall off once my debt is paid!

[Anonymous]

The collection companys have started reported the changes in my balances. I have decreased all of my debts (Still have a ways to go) But I checked my scores today and I they have increased by 27 points! WooHOO!!!!

I still have a long journey ahead, but this gives me hope.

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