Quick Question about FICO Simulator & Old accounts

[brownee]

Ok...when I do the FICO simulator, it tells me that if I pay down my debt ($460) that I can expect a score increase. Thing is..the $460 relates to a First Premier account that is closed and shows CO on all 3 CBR's. Now, I thought that FICO didn't care whether something was paid or not? Why is it telling me this? It seems as though its giving it the same significance as a valid open account? I've sent FP a PFD and haven't heard anything, so i'm wondering if I should just pay them and be done with it? When I called them, they told me to call a collection company. The collection company has called me twice, but I have yet to receive a letter from them. Should I just pay it and be done with it...or wait a little longer?? I'm confused cause I thought FICO didn't care about paid or unpaid..

[Anonymous]

FICO does consider a balance showing on an OC CO revolving account for score purposes. It counts towards UTIL.

If at all possible it's best to keep after OC. If CA sends you a dunning letter, you may be able to keep them from reporting if you DV them quickly and possibly do a Pay For not Reporting.

[brownee]

Do a pay for not reporting to the CA?? Then if they agree, pay it and send a DV to the OC? Or then dispute the listing of the OC on my CBR due to the fact that it has been paid?

[Anonymous]

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brownee wrote:

Do a pay for not reporting to the CA?? Then if they agree, pay it and send a DV to the OC? Or then dispute the listing of the OC on my CBR due to the fact that it has been paid?

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Sounds like I must have created some confustion.

Try to work with OC if at all possible, pay them and/or get the to remove from collections.

On another note, if/when the CA does send you a dunning letter (and the OC is being uncooperative), immediately DV the CA. Then if CA satisfies DV, try to pay them to not report to the CRA in the first place.

That would leave you with only one 'baddie' from OC to try to GW in future.