@Anonymous wrote:So I have 2 Capital One accounts that are with Nathan & Nathan for a charge off- I have set up a payment plan with them but what I'm wondering is since Capital One is reporting the account and balance on my credit report will each payment I make to Nathan & Nathan reflect on that balance with Cap One or does it not show until its paid/settled?
My husband and I are working on getting our collections paid off - was told by mortgage co that they would need to be 0 balance or removed from credit report. Our mid mortgage scores were 467- Mine and 503- Husband. They want us to get up to 620/640 for mortgage pre-approval to purchase a new home from Lennar. We are going through their in house lender, Eagle Home Mortgage and working with their credit specialist. She pulled our credit reports and based on her calculation we should have an increase to 620 in 6 months after we pay those accounts down plus a few others down to 0 and pay down our current/active CC down to $50/750 limit.
Yep as you pay it down Cap-1 will be reporting pretty much monthly, its the law that the report accurate information in a reasonable period of time. You want to try and get them removed if possible once paid but its going to be hard with OCs. You want to pay them ASAP and have that montly reporting stop so your Fico can begin to recover.
