Looking for advice

[Anonymous]

So I'm going through and trying to GW some of my old baddies after just discovering that is a thing. Back in 2015 I had a Synchrony/Walmart card that I couldn't handle at the time and went AWOL with.

I just recently sent Synchrony a GW letter and I got a call back from them telling me that because the account was purchased by a collector (Midland Credit), they are the ones who have to report anything different to the bureaus. Makes sense, except my only bit of disbelief in that is because on my report, Synchrony is listed as the creditor and there is nothing from Midland. Let me know what you think about this.

However, a second consideration of mine brings to light that this account was one of my older accounts. AAoA is currently a primary concern on my credit profile.

What I would like to know:

1. Is there any value in the age of it or because of it being charged-off/closed and old, is it not considered?

2. Assuming the age of it still holds weight, would it be better to try and remove the delinquency and take the age hit, or leave it for the age benefit and keep the delinquency?

Credit Karma makes this account seem irrelevant because it does not show for both payment history and credit age and I wasn't sure if it's because it's "closed", but at the same time it shows an auto loan of mine that's labelled incorrectly as closed (in dispute, another story) as being part of their credit age and payment history factors.

Here on myfico, though, it's listed in my accounts with a red "negative indicator" flag signalling to me that it is still very much relevant... Below is a link to a screenshot of the account because I can't figure out how to post an image.

https://imgur.com/a/UrpWDcW

It is true that closed accounts will stay visible on your report for 7 years, correct? I'm just trying to figure out the best approach to this to make the most informed decision I can. Please share some thoughts.

[dynamicvb]

Those lates are killing your score. I don't think you are getting near any benefit from the age. I'm pretty sure Midland is one of the ones who will pay for delete. If you search the rebuilding forum you will find some threads. Getting this one gone can only help your scores as those lates and the chargeoff is holding you back way more than any age-related factor.

[Anonymous]

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@dynamicvb wrote:

Those lates are killing your score. I don't think you are getting near any benefit from the age. I'm pretty sure Midland is one of the ones who will pay for delete. If you search the rebuilding forum you will find some threads. Getting this one gone can only help your scores as those lates and the chargeoff is holding you back way more than any age-related factor.

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I did kind of figure as such, but really wanted to get second opinions.

Any thoughts as to who would be appropriate to send GW letters to? The way I understand it is the creditor on the report is responsible for reporting the account, but they're saying it has to be Midland. Also, the account has been paid off for some time. Wouldn't that make it ineligible for a PFD?

[gdale6]

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@Anonymous wrote:

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@dynamicvb wrote:

Those lates are killing your score. I don't think you are getting near any benefit from the age. I'm pretty sure Midland is one of the ones who will pay for delete. If you search the rebuilding forum you will find some threads. Getting this one gone can only help your scores as those lates and the chargeoff is holding you back way more than any age-related factor.

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I did kind of figure as such, but really wanted to get second opinions.

Any thoughts as to who would be appropriate to send GW letters to? The way I understand it is the creditor on the report is responsible for reporting the account, but they're saying it has to be Midland. Also, the account has been paid off for some time. Wouldn't that make it ineligible for a PFD?

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GW letters always go to whomever is reporting the negative information it can be an OC, a CA or even both. If the account is paid off the PFD is irrelevant. Midland has a new policy of removing a collection 2 years after they received it and its been paid so you want to contact Midland if this time period has passed and ask for removal.