Try to pay or let it go??

[TrialByFire]

Hi everyone! I'm a long time forum stalker, first time posting. The advice I've found on myfico has been priceless information during my last 9 months of rebuilding. I'm down to my last 4 baddies (down from 15 or more last August), and I'll take any advice I can get. As you can see, most of these accounts are 3+ years old. I've been on my best credit behavior the last 2 years and really want to clear any of these remaining boogers up. Here goes!

1.  CMI...Balance:  $380    Placed for collection:  7/9/2009    Date updated:  11/20/2009    Month and year this item will be removed:  02/2016

2.  Credit Acceptance Corp...Balance:  $3,250    Date update:  3/21/2014    Voluntary Surrender   Date to be removed:  08/2017

3.  1st Nat'l Bank....Balance:  $333    Date Updated:  3/31/2014     Charge Off     Date to be removed:  03/2018

4.  NCC....Balance:  $850   Date updated:  3/24/2014    Collection     To be removed: 07/2014

How would you handle something like this?

The big monkey on my back is Credit Acceptance. I spoke with Credit Acceptance today, and they offered to settle for $1,500 to be considered PIF or $1,000 to be considered SETTLED for LESS than owed. I asked if they will do PFD but they said no. I would like to make good on some of these debts, and I do have the money put back to pay some of these. I don't want to drain my savings though, especially if it won't help my scores or credit situation. Yes, the peace of mind is worth something but I want these off my reports if possible. None of these creditors are contacting me currently. Would like to buy a house in near future. Thank you in advance for any help yall can provide!!!!  

Current scores are EQ FICO 628, CK Fako 594, EX 635 (up from 495 1.5yrs ago). Have acquired 2 secured CC in last 10 months.

[Shogun]

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@TrialByFire wrote:

Hi everyone! I'm a long time forum stalker, first time posting. The advice I've found on myfico has been priceless information during my last 9 months of rebuilding. I'm down to my last 4 baddies (down from 15 or more last August), and I'll take any advice I can get. As you can see, most of these accounts are 3+ years old. I've been on my best credit behavior the last 2 years and really want to clear any of these remaining boogers up. Here goes!

1.  CMI...Balance:  $380    Placed for collection:  7/9/2009    Date updated:  11/20/2009    Month and year this item will be removed:  02/2016

 Hasn't updated in awhile, I'd save some money up for this one, then try a PFD.

2.  Credit Acceptance Corp...Balance:  $3,250    Date update:  3/21/2014    Voluntary Surrender   Date to be removed:  08/2017

 I'd take them up on their offer, whichever you prefer.  FICO doesn't make a distinction between PIF and settled.  The only difference might be on a manual review, and you can usually talk your way through those.

3.  1st Nat'l Bank....Balance:  $333    Date Updated:  3/31/2014     Charge Off     Date to be removed:  03/2018

 Fairly recent and probably within the SOL.  I'd try to PFD, if not, then I'd pay/settle and then start the GW process.

4.  NCC....Balance:  $850   Date updated:  3/24/2014    Collection     To be removed: 07/2014

 Almost past the CRTP on this one.  I'd offer a small amount, like $200 to have them settle this one.

How would you handle something like this?

The big monkey on my back is Credit Acceptance. I spoke with Credit Acceptance today, and they offered to settle for $1,500 to be considered PIF or $1,000 to be considered SETTLED for LESS than owed. I asked if they will do PFD but they said no. I would like to make good on some of these debts, and I do have the money put back to pay some of these. I don't want to drain my savings though, especially if it won't help my scores or credit situation. Yes, the peace of mind is worth something but I want these off my reports if possible. None of these creditors are contacting me currently. Would like to buy a house in near future. Thank you in advance for any help yall can provide!!!!  

Current scores are EQ FICO 628, CK Fako 594, EX 635 (up from 495 1.5yrs ago). Have acquired 2 secured CC in last 10 months.

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[TrialByFire]

Thanks Shogun...think I'm gonna give it a shot and see what happens

[TrialByFire]

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@Shogun wrote:

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@TrialByFire wrote:

Hi everyone! I'm a long time forum stalker, first time posting. The advice I've found on myfico has been priceless information during my last 9 months of rebuilding. I'm down to my last 4 baddies (down from 15 or more last August), and I'll take any advice I can get. As you can see, most of these accounts are 3+ years old. I've been on my best credit behavior the last 2 years and really want to clear any of these remaining boogers up. Here goes!

1.  CMI...Balance:  $380    Placed for collection:  7/9/2009    Date updated:  11/20/2009    Month and year this item will be removed:  02/2016

 Hasn't updated in awhile, I'd save some money up for this one, then try a PFD.

2.  Credit Acceptance Corp...Balance:  $3,250    Date update:  3/21/2014    Voluntary Surrender   Date to be removed:  08/2017

 I'd take them up on their offer, whichever you prefer.  FICO doesn't make a distinction between PIF and settled.  The only difference might be on a manual review, and you can usually talk your way through those.

3.  1st Nat'l Bank....Balance:  $333    Date Updated:  3/31/2014     Charge Off     Date to be removed:  03/2018

 Fairly recent and probably within the SOL.  I'd try to PFD, if not, then I'd pay/settle and then start the GW process.

4.  NCC....Balance:  $850   Date updated:  3/24/2014    Collection     To be removed: 07/2014

 Almost past the CRTP on this one.  I'd offer a small amount, like $200 to have them settle this one.

How would you handle something like this?

The big monkey on my back is Credit Acceptance. I spoke with Credit Acceptance today, and they offered to settle for $1,500 to be considered PIF or $1,000 to be considered SETTLED for LESS than owed. I asked if they will do PFD but they said no. I would like to make good on some of these debts, and I do have the money put back to pay some of these. I don't want to drain my savings though, especially if it won't help my scores or credit situation. Yes, the peace of mind is worth something but I want these off my reports if possible. None of these creditors are contacting me currently. Would like to buy a house in near future. Thank you in advance for any help yall can provide!!!!  

Current scores are EQ FICO 628, CK Fako 594, EX 635 (up from 495 1.5yrs ago). Have acquired 2 secured CC in last 10 months.

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UPDATE: I paid items 2 and 3...My score jumped up to 690! Not too bad, at least paying them didn't ding my score. I really think the reason it didn't is because both were reporting negs on a monthly basis. Thanks to those who helped! And hopefully this will provide some guidance for anyone in a similar situation. As always, YMMV.

[growing123]

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@TrialByFire wrote:

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@Shogun wrote:

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@TrialByFire wrote:

Hi everyone! I'm a long time forum stalker, first time posting. The advice I've found on myfico has been priceless information during my last 9 months of rebuilding. I'm down to my last 4 baddies (down from 15 or more last August), and I'll take any advice I can get. As you can see, most of these accounts are 3+ years old. I've been on my best credit behavior the last 2 years and really want to clear any of these remaining boogers up. Here goes!

1.  CMI...Balance:  $380    Placed for collection:  7/9/2009    Date updated:  11/20/2009    Month and year this item will be removed:  02/2016

 Hasn't updated in awhile, I'd save some money up for this one, then try a PFD.

2.  Credit Acceptance Corp...Balance:  $3,250    Date update:  3/21/2014    Voluntary Surrender   Date to be removed:  08/2017

 I'd take them up on their offer, whichever you prefer.  FICO doesn't make a distinction between PIF and settled.  The only difference might be on a manual review, and you can usually talk your way through those.

3.  1st Nat'l Bank....Balance:  $333    Date Updated:  3/31/2014     Charge Off     Date to be removed:  03/2018

 Fairly recent and probably within the SOL.  I'd try to PFD, if not, then I'd pay/settle and then start the GW process.

4.  NCC....Balance:  $850   Date updated:  3/24/2014    Collection     To be removed: 07/2014

 Almost past the CRTP on this one.  I'd offer a small amount, like $200 to have them settle this one.

How would you handle something like this?

The big monkey on my back is Credit Acceptance. I spoke with Credit Acceptance today, and they offered to settle for $1,500 to be considered PIF or $1,000 to be considered SETTLED for LESS than owed. I asked if they will do PFD but they said no. I would like to make good on some of these debts, and I do have the money put back to pay some of these. I don't want to drain my savings though, especially if it won't help my scores or credit situation. Yes, the peace of mind is worth something but I want these off my reports if possible. None of these creditors are contacting me currently. Would like to buy a house in near future. Thank you in advance for any help yall can provide!!!!  

Current scores are EQ FICO 628, CK Fako 594, EX 635 (up from 495 1.5yrs ago). Have acquired 2 secured CC in last 10 months.

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UPDATE: I paid items 2 and 3...My score jumped up to 690! Not too bad, at least paying them didn't ding my score. I really think the reason it didn't is because both were reporting negs on a monthly basis. Thanks to those who helped! And hopefully this will provide some guidance for anyone in a similar situation. As always, YMMV.

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Congratulations!! Nice bump on your score!

[TrialByFire]

Thanks growing123! Time, persistance, being responsible and myfico forums have helped a lot

[myjourney]

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@TrialByFire wrote:

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@Shogun wrote:

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@TrialByFire wrote:

Hi everyone! I'm a long time forum stalker, first time posting. The advice I've found on myfico has been priceless information during my last 9 months of rebuilding. I'm down to my last 4 baddies (down from 15 or more last August), and I'll take any advice I can get. As you can see, most of these accounts are 3+ years old. I've been on my best credit behavior the last 2 years and really want to clear any of these remaining boogers up. Here goes!

1.  CMI...Balance:  $380    Placed for collection:  7/9/2009    Date updated:  11/20/2009    Month and year this item will be removed:  02/2016

 Hasn't updated in awhile, I'd save some money up for this one, then try a PFD.

2.  Credit Acceptance Corp...Balance:  $3,250    Date update:  3/21/2014    Voluntary Surrender   Date to be removed:  08/2017

 I'd take them up on their offer, whichever you prefer.  FICO doesn't make a distinction between PIF and settled.  The only difference might be on a manual review, and you can usually talk your way through those.

3.  1st Nat'l Bank....Balance:  $333    Date Updated:  3/31/2014     Charge Off     Date to be removed:  03/2018

 Fairly recent and probably within the SOL.  I'd try to PFD, if not, then I'd pay/settle and then start the GW process.

4.  NCC....Balance:  $850   Date updated:  3/24/2014    Collection     To be removed: 07/2014

 Almost past the CRTP on this one.  I'd offer a small amount, like $200 to have them settle this one.

How would you handle something like this?

The big monkey on my back is Credit Acceptance. I spoke with Credit Acceptance today, and they offered to settle for $1,500 to be considered PIF or $1,000 to be considered SETTLED for LESS than owed. I asked if they will do PFD but they said no. I would like to make good on some of these debts, and I do have the money put back to pay some of these. I don't want to drain my savings though, especially if it won't help my scores or credit situation. Yes, the peace of mind is worth something but I want these off my reports if possible. None of these creditors are contacting me currently. Would like to buy a house in near future. Thank you in advance for any help yall can provide!!!!  

Current scores are EQ FICO 628, CK Fako 594, EX 635 (up from 495 1.5yrs ago). Have acquired 2 secured CC in last 10 months.

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UPDATE: I paid items 2 and 3...My score jumped up to 690! Not too bad, at least paying them didn't ding my score. I really think the reason it didn't is because both were reporting negs on a monthly basis. Thanks to those who helped! And hopefully this will provide some guidance for anyone in a similar situation. As always, YMMV.

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Congrats looking good 

Keep up the good work

[growing123]

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@TrialByFire wrote:

Thanks growing123! Time, persistance, being responsible and myfico forums have helped a lot

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I know!  I wish I had found this site years ago, for that matter, I wish I paid attention to my credit years ago!  lol  Keep up the good work!