@Anonymous wrote:
So, I have called 4 different COs today, and was told pretty much the same thing: per FCRA they are not able to delete debts from CRs even once they are paid-in-full and that they will fall off in 7 years (duh!). I was leary of contacting two of the companies because they are so close to falling off. What are the chances that they will re-age the accounts now that I have made contact? Also, they are medical bills that I have been told not to pay by the mortgage lender, however I am desperate to get the extra points needed to be able to qualify for down payment help and am being told that I have recent derrogatory accounts/late payments. These are the only negative accounts, as everything is current and my credit accounts carry a <5% balance. The only other debts on my credit report are student loans, and the lender says that paying some of the smaller ones off while not really help. Does anyone have any experience with paying off medical debts that are in collections and seeing an increase in your credit scores? Thanks, for any help.
Hi @Anonymous and welcome to the forums
I have a question. You mentioned CO (charge off), but then you stated medical debts, so could you clarify if they are really COs or collection accounts
COs are charge offs, usually associated with delinquent loans and/or credit cards
If they are not charge offs but collection accounts, here is a link to a different thread where @gdale6 describes steps you can take and try to get them off your reports, it's post number 3
https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Paying-off-Collections-3-x-small-or-1-x-giant-better-for-score/m-p/5577023/highlight/true#M586377
Sounds to me like you're describing medical collections and not actual charged off accounts
Also, lots of abbreviations being thrown around, so here is the list of the common ones, just in case
http://ficoforums.myfico.com/t5/User-Guidelines-General/Common-Abbreviations/td-p/88458
Starting Score: 494 503 521
