Should I take care of this??

[Anonymous]

Hello, all!

I'll get right to it. Working on clearing up a few small collections on my wife's report. I've spoken with the OC and they cannot recall this and let me deal directly with them. However, they will put in a request, and they said it would be a detailed one rather some generically worded one, to the debt buyer asking for deletion from her report. Here is the small debt -

CREDIT MANAGEMENT LP #5259****

4200 INTERNATIONAL CARROLLTON, TX 75007 (877) 741-7302

Date Opened: 06/07/2013

Responsibility: Individual Account

Account Type: Open Account

Loan Type: DEBT BUYER

Balance: $99

Date Updated: 12/01/2017

High Balance: $99

Original Creditor: CHARTER COMMUNICATIONS (Cable/Cellular)

Past Due: >$99<

Pay Status: >In Collection<

Estimated month and year that this item will be removed: 03/2018

It is updating as you can see, but it is also going to be removed in few months. As of now, it is only showing on TU. I honestly do not know if this is valid or not due to it's age, but I'll give them the benefit of the doubt and assume it is, and have no problem paying this off at all. She does have 1 larger collection as well though, and it is only about 4 years old. So I have a few questions...

Should I settle this debt in full if I can get the CA to agree in writing to a PFD?

Should I let it age and just fall off while concentrating on the larger collection (and more important things mentioned below)?

Does anyone see any adverse affects of paying this?

We are looking to get a second mortgage in the next few months, so we are saving every last penny we can to use toward as big of a down payment as we can amass by that point in time, and clearing up more important aspects of her credit. That combined with the holidays, I want to get the biggest "bang for my buck", $99 or not. Any suggestions before I contact the CA regarding this? Thanks in advance!

[MrTom]

What are your states SOL and are you past the SOL?  If you can be sued still, pay it!  Its only 99 dollars and you will spend more time asking for a settelment then its worth.  Getting sued that 99 turns into a 399+ and it gives you a judgment that lingers onyour credit report.

If your SOL has passed, give the other collection accounts priority. 

Paying the collection will not extend the reporting period.

[Anonymous]

Thanks for your reply. The SOL is 6 years, so it is passed that. I plan on paying it if they can validate it for me, I just wasn't sure if I should jump on the opportunity to possibly get a PFD with the help of the OC or let it slide 2 months for now and just fall off. I also know that $99 is pocket change, there are a couple more collections that I could put the $99 towards. Not to mention its the holidays, and we are a large combined family with 5 children, $99 looks like $999 at this time of year, haha. Perhaps I will just call them and feel them out regarding the PFD and go from there.

[Adkins]

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@Anonymous wrote:

Thanks for your reply. The SOL is 6 years, so it is passed that. I plan on paying it if they can validate it for me, I just wasn't sure if I should jump on the opportunity to possibly get a PFD with the help of the OC or let it slide 2 months for now and just fall off. I also know that $99 is pocket change, there are a couple more collections that I could put the $99 towards. Not to mention its the holidays, and we are a large combined family with 5 children, $99 looks like $999 at this time of year, haha. Perhaps I will just call them and feel them out regarding the PFD and go from there.

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I'd let it fall off next year. I wouldn't try for an early exclusion or anything either, just let it go bye-bye! Start the mortgage shopping afterwards. And $99 isn't pocket change to me - that's more like .10¢ 😉

Edited - brain no worky

[Anonymous]

I concur. If it falls off in 3 months. DONT TOUCH IT. don't apply for early exclusion either. That has went south for a few people and got the account updated and only made matters worse for them. Just wait that one out for the 3 months if it is past the SOL. Best bet there. I wouldn't even ask for a PFD. That can go south too if they decide not to amd validate the debt by you saying something you could potentially be acknowleding that the debt is valid. Wait it out and best of luck. 

[RobertEG]

Credit report exclusion does not negate the debt.  It puts the collection under a barrell by removing it from knowledge by others simply by a pull of your credit report.

Whether or not the unpaid collection/debt will be a future issue depends upon whether or not you are required to disclose the debt in the application process for new credit.  While it may not be a problem after concealment due to credit report exclusion, it still exists.....

[Anonymous]

Let it age off in a few months. The SOL has expired so you're good to go.

[Anonymous]

I understand that. It will be paid in the end. I was unsure if I should jump at the opportunity to possibly PFD or let it fall off naturally, handle more pressing items with the money, and pay this in the near future. In the end, valid debts are valid debts which should be paid. I've requested documentation from the OC to review regarding the debt since due to it's age, and the fact it was not originally mine. If all looks legit, I'll pay it no questions asked.

[Anonymous]

Early Exclusion seems to be such a hit or miss thing.  I called up Equifax which is supposedly very strict about EE, and the woman, gods bless her, was falling over herself to delete things.  She suggested accounts that were not set for deletion for 9 months and I was like uh sure, voila they were gone.  She wouldn't give me her extension or employee number or anything so maybe it was her last day, I have no idea.  But she even started deleting inquiries, which I thought was forbidden.  TU wouldn't hear anything of it until exactly 7 years.  Which is not the experience a lot of people have had.  HUCA would be ideal if it didn't require 122 minutes on hold each time.

(Much like having more than one myFico account to monitor split reports.)