I have a collection that only appears on my EQ CR. It is an individual account, unpaid, with a balance of $648.00. The date of 1st delinquency is 11/2000. I would like to buy a home within the next 6 months. Should I pay the balance on this collection or wait for it to fall off my CR? My concern is how the owned balance affects my credit score. If I pay the balance will my score increase? or will my score lower because the collection will appear to be newer than it really is?
Personally I agree with you. Pay it off and get it out of my life, but I am afraid of opening a can of worms. I am curious though, why will it remain for 7.5 years and not just 7. Also, is paying it off as simple as mailing a check to the CA? (Do not know who the original creditor is) or do I have to go through the PFD routine?