Should I PFD or should I pay to reinstate?

[Anonymous]

I would write.

No, after the 7.5 years, the CO annotation would be removed along with all the lates.  It would be a good account if the OC does not remove it.

[NibblesTreats]

See, you learn something new everyday.  That is something I had not read so far in all the threads I've looked through!  Good to know.  I will definitely go that route then and see where it gets me! Thanks guiness!

[Anonymous]

I learned that from RobertEG.  He is very knowledgable.

And one of the past mods had an account that went positive after a CO CRTP passed.

[newmomnewme]

Wow...what a concept...the derogs will age, but the account will stay....hmmmm, maybe I WON'T keep hounding Cap1 to remove the COs just yet. 

[Anonymous]

Well, the FCRA says that CO and collections that are 7.5 years from the DoFD have to be removed.  A CO is an accounting term and is the status/condition of the TL.  That status is what has to be removed (and the lates because they would be over 7 years old).  Once those are removed, unless the creditor removes the account, you have a good standing account remaining.

And that is exactly what it is.  The derogs age and have to be removed.

[Revelate]

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@newmomnewme wrote:

Wow...what a concept...the derogs will age, but the account will stay....hmmmm, maybe I WON'T keep hounding Cap1 to remove the COs just yet. 

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Depends how recent it is.

If it's a recent derog, airstrike it absolutely and go on with life: you will build your score faster via new positive history and keeping the negative factor which will depress your scores for a long while to come..  If you're a year or maybe two out, it *might* be worth leaving if it's otherwise a high quality tradeline, but even then I think I'd personally still argue for the PFD.  

AAoA isn't anywhere close to the most important factor of FICO, and if I could nuke all my deragotires I'd shoot up to 720-740 overnight from where I am now I suspect with just the two years of positive history I've established and otherwise being a clean/no file prior to that. 

Sadly that's not my case heh, one state tax lien personally which is going to stay till something like 2017.  Sigh California.