Hello, i'm new to the forums. I've been lurking for a while, while attempting to rebuild my credit from when I was young and didnt care about anything. Currently EX - 627, EQ - 646, TU - 649.
Anyway, I have a Verizon FiOS account that is reporting as collections from early 2019. I attempted to call them to see if they would do a PFD, but they would not. What would my best course of action be? Is it beneficial to PIF over settling with them? Will updating the account cause the negative account to stay on my credit for a longer period of time?
Also, while I have you guys here. I have a 13 year old credit card account in good standing that is only reporting to EQ and TU causing those scores to be ~20 points higher. Is there anyway that I can get it to report to EX as well?
Verizon won't PFD so settle it because it's gonna be there until it falls off, which is up to 7.5 years from DoFD. It will sing you until the balance reports 0, then stop.
As for the credit card, if they don't report to the 3rd bureau, there's nothing you can do.
I called and talked to Verizon collections department. It's on my credit as Verizon collections.
@Anonymous wrote:
@festiveowl wrote:I called and talked to Verizon collections department. It's on my credit as Verizon collections.
What advantage do you see for waiting?
If it was me, and they are not interested in PFD, I`ll settle for 40% or so.
I didn't know if I paid the balance it would update and stay on my credit longer. I am also curious if it's beneficial to PIF over settle? Sorry, I'm new to all the credit stuff.
@Anonymous wrote:
@festiveowl wrote:
@Anonymous wrote:
@festiveowl wrote:I called and talked to Verizon collections department. It's on my credit as Verizon collections.
What advantage do you see for waiting?
If it was me, and they are not interested in PFD, I`ll settle for 40% or so.
I didn't know if I paid the balance it would update and stay on my credit longer. I am also curious if it's beneficial to PIF over settle? Sorry, I'm new to all the credit stuff.
Paying it will not cause it to stay in your credit any longer than not paying it. Collections will stay in your credit for about 7 years.
If they are willing to settle, you should settle. The collection will still be reported as zero. I`d call again and ask if they can recall the collection if you pay in full and see if that help. Something getting the right again makes all the difference.
Ok, great. Thank you!
@Anonymous wrote:
@festiveowl wrote:
@Anonymous wrote:
@festiveowl wrote:I called and talked to Verizon collections department. It's on my credit as Verizon collections.
What advantage do you see for waiting?
If it was me, and they are not interested in PFD, I`ll settle for 40% or so.
I didn't know if I paid the balance it would update and stay on my credit longer. I am also curious if it's beneficial to PIF over settle? Sorry, I'm new to all the credit stuff.
Paying it will not cause it to stay in your credit any longer than not paying it. Collections will stay in your credit for about 7 years.
If they are willing to settle, you should settle. The collection will still be reported as zero. I`d call again and ask if they can recall the collection if you pay in full and see if that help. Something getting the right again makes all the difference.
If the account is in their internal collections department, can it be recalled? From what I'm reading online that means to pull it back from an external collection agency.