Pay Collection Accounts?

[fused]

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RobertEG wrote:
IMHO, this entire thread should be limited only to the impacts of non-payment.  It is not within the TOS of this site to advise anyone not to pay a legit debt.

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The discussion in this thread does not violate myFICO's TOS, at least not yet. This thread will remain unlocked unless there is a violation of the TOS.

--fused, myfico moderator

[Anonymous]

Thanks so much for all the advice! I am going to send PFD letters to all three collection accounts to pay and get them removed. I know this will better my score rather then keep them on there unpaid. I will let you know how it goes once I hear back from them! Thanks!!

[Anonymous]

What does a DV letter look like?? Thanks in advance!

[RobertEG]

I would only caution that if you apply for a mortgage loan of $150K or more, the derogs may still be reported in your CR to that lendor indefinately.  The 7 or 7 1/2 year FCRA dropoff dates are exempted for credit reviews at this level of credit.

[Anonymous]

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RobertEG wrote:
I would only caution that if you apply for a mortgage loan of $150K or more, the derogs may still be reported in your CR to that lendor indefinately.  The 7 or 7 1/2 year FCRA dropoff dates are exempted for credit reviews at this level of credit.

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From talking with others, this rarely occurs, but yes it can occur.

It is my understanding that lenders have to request it specially.

However, if someone PFDs, then they won't appear even if the special report is requested.

[Anonymous]

Thank you!!