PFD on my credit card while in DMP

[uktaurusbulba]

I am in a DMP and I am going to try a PFD with Washington Mutual. I just have one 30 day late, but it is recent and the removal would give my account a short term jolt. Anyways, Im looking forward to seeing what success I have here.

[wahmom]

You want to pay for delete? Or are you going to send a GW letter to see if they remove the late? I wouldn't delete the tl it may hurt your scores worse than the 30 day.

[uktaurusbulba]

Well, it is a relatively new account for me (4yrs) so it wont hurt my age. I figure if I can get the late removed, its worth it.

[Anonymous]

The history is better than the 30 day late-

Pay it off- then ask for GW 

[uktaurusbulba]

Tim, What if my average score history is like 6 years? If this account is only 4 years old, wouldnt it be better to have it removed?

[Anonymous]

IMHO- no

The positive history prior and after the 30 day late are giving you more points- 

Plus the 10 years after you pay it off!!!!!!!!!!!!

A 30 day late several years ago is nil points. 

---

uktaurusbulba wrote:
Tim, What if my average score history is like 6 years? If this account is only 4 years old, wouldnt it be better to have it removed?

---

[marty56]

How long do you have to go in DMP.  I ask this because if you have say 2 years to go then I would just leave it be for now since you wont be applying for any new credit while you are in DMP.

I say this because I made a mistake whle I was in DMP and got a Sams Club card which made BofA angry and the net result is I have a 3 year old 120 day late on my CR.

Message Edited by marty56 on 07-04-2008 05:41 PM

[uktaurusbulba]

I prolly have at least 2 years to go. Ive only been in it about 6 months or so and I owe like 50k. I am treating it like a long term business loan. The late is recent, (two months ago). My equifax right now is 550. I have about 86% util, and alot of lates that are recent. The score simulator says my scores will be 700-740 in 24 months if I dont miss a payment and erase 90% of debt.