@House2021 wrote:Wanted to see how many points you gained after getting a charge off paid? I'm going to be paying off 5 charge offs (will still show the missed payments on those - 5 years old) and I will still have collections (those are next). While I know we can't predict the score increase to expect, I was wondering if you can share how many Fico points were gained when you paid a charge off? How about when you paid your last charge off? I had one charge off removed in its entirety and gained between 11-40 points, but that was removed, not paid, so I'm curious what to expect.
I paid one off earlier this year. It was just under 500 bucks and had been updating monthly. I got an 12 point gain, if I recall correctly.
Hope this helps.
I would only pay off ones that allow to pay for delete.
I would try to negotiate balances.
Then I would pay newest ones first.
Then I would pay smallest ones.
etc.
I would bet some people would gain minimal points or even lose points for paying old charge offs.
What is the state of limitations in your state?
I would be very very cautious and careful.
GL!
@House2021 wrote:Thank you for sharing designated_knitter I appreciate the feedback it's lot of money to put out so I'm really trying to decide if I'll get to where I need to be. Was that your only charge off?
Unfortunately, no. I still have a CO with Synchrony for just north of 800 bucks. I tried to pay that off at the same time and they literally said "no, you can not pay this".
For the record, the paid CO is still on my report and when I called the company, she did say they wouldn't pay for deletion. Did offer me a settlement but chose to PIF on the off chance I could get a goodwill removal.
I also have 3 othe COs from about the same "vintage" but those all show a zero balance. They were sold to debt collectors but since I live in NC, it is illegal to CAs to report and collect on debts beyond the SOL. One was being reported on my CRs and they continued to call. I reported them to our state attorney general and it disappeared a couple weeks later. The house counsel for the CA responded with a letter that the continued attempts to collect was a "programming error" and apologized for the inconvenience! I'm framing that letter!
Good Afternoon.
I just did a 3 pay for deletes and with thoses my scores have been increasing about 5 to 13 points everytime it's reported for every credit bureau, They weren't all reported at the same time. Those were collections though. I just paid off a $600 Capital One credit card that has not been updated. I'm also working on paying off a charged off auto loan. I will keep you posted.
