@Anonymous wrote:Well for the last couple of years I believed all I had to do was get a card (NFCU Secured) with a 4 figure limit maintain it and over time my scores would increase back to where they used to be. Well 3.5 years later nope not the whole trueth. I will say this card was a blessing for 2 of the 3 years that was all the credit I had after destroying my credit after a job loss.
I have been able to get approved in the last couple of months for 4 cards since the beginning of the year and 2 just over a year ago with no attention to my file. After reading a few of the threads I now know I should be doing some work and it is broke down into these areas.
Charge offs and Late payments - June - Sep
Collection Accounts - Sep - Dec
Most of the old credit is gone and I believe working with charge offs would be low fruit as the balance is under a $1000 and after offering to pay I should be able to get a favorable outcome. I believe the Collection accounts will be a little dicey especially since all of them are medical in nature and around 2 to 3 years old with some interesting balances. Who are the CA's? If you can go by the med providers office. Ask them if you pay the debt will they recall the collections.
So as I begin to work on my COs what is the advice the community would give. Should I offer to pay for good will status changes or pay for delete. Your not going to get a CO removed or deleted. Just doesnt happen. Credit One seems to be the only one. My concern is these companies would extend my file by another 3 years giving me close to 7 years and would increase my payment history from 95% to very close to 100%. Nothing can change the DoFD and falling off period. Payment %'s are nothing to pay attention to. Its CMS fluff for entertainment.
Any advice would be greatly appreciated.
FICO gos by paid on time or late. It doesnt put %'s in your scores. List who the collections are there may be a PFD CA. But try the local med office first.
Paying the CA's will help your score in the long run. Some see a slight decrease immediately after, but some see an immediate increase. After a few months if all CA's are paid you will begin seeing a recovery slowly as they are still listed. But bear in mind this is all based on other credit utilization, and a lot of factors we just don't know.
When you make these payments I would push for a PFD especially if its close to SOL or the SOL has already passed. If no luck there before making a payment try reaching out to C-Level representatives at the OC, and explain your hardship that caused this issue and ask if you pay the debt to them if they can or will recall the debt. Anyone below C-Level will likely not be able to assist with this. Exhaust all options before just making a payment.
