Impact of paying debt as cosigner

[Anonymous]

 I just signed up for the free report with discover. I have 1 derog I don't know what to do with. It became an ego thing, I was co-signer (auth user???) on an ex's card and he didn't pay. It's showing up as my debt too. I've tried disputing it a million times but it's still there. It's 6yr6m old. At times I've just wanted to pay it to see it gone but no, it's not my debt so I just look at it sitting there. I wonder if I paid it, will it help my score or hurt it? It's $428. Then, like I mentioned, a crap ton of inquiries buying my car. 

[M_Smart007]

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@Anonymous wrote:

Thanks! I just signed up for the free report with discover. I have 1 derog I don't know what to do with. It became an ego thing, I was co-signer (auth user???) on an ex's card and he didn't pay. It's showing up as my debt too. I've tried disputing it a million times but it's still there. It's 6yr6m old. At times I've just wanted to pay it to see it gone but no, it's not my debt so I just look at it sitting there. I wonder if I paid it, will it help my score or hurt it? It's $428. Then, like I mentioned, a crap ton of inquiries buying my car. 

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@Anonymous, You might ask your question here for a better response?

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/bd-p/ficoscoring

[coldfusion]

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@Anonymous wrote:

Thanks! I just signed up for the free report with discover. I have 1 derog I don't know what to do with. It became an ego thing, I was co-signer (auth user???) on an ex's card and he didn't pay. It's showing up as my debt too. I've tried disputing it a million times but it's still there. It's 6yr6m old. At times I've just wanted to pay it to see it gone but no, it's not my debt so I just look at it sitting there. I wonder if I paid it, will it help my score or hurt it? It's $428. Then, like I mentioned, a crap ton of inquiries buying my car. 

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@AnonymousI'll see if we can get your post relocated over to a different area of the forum so you can get some good feedback.

[AllZero]

@Anonymous  What kind of derogatory is it, charge off, delinquency, collection? What is the DoFD Date of First Delinquency/Derogatory?

[AllZero]

Can you clarify if you were a joint account holder or just an authorized user?

You can obtain your credit report at 
AnnualCreditReport. Free weekly 3 bureau online reports through April 2021.

[Anonymous]

It's a charged off acct with an outstanding bal. It looks like 08/2014 was the first neg, but there hasn't been a payment in years. It says status date 07/2015.  I was a co signer on several things, he had zero credit history and couldn't get approved without me. I'm thinking to leave it be before it makes things worse for me? But it's dragging me down. There's 57 charge offs on it

[Anonymous]

@AllZero @Please see my reply, I forgot to tag you the first time, sorry

[AllZero]

I'm guessing the first negative is the 30 day late, then 60, 90, 120, 180, etc. Leading up to the charge off? There should only be one charge off.

If you pulled your credit report from annualcreditreport.com, look for responsibility field, e.g. Individual Account, authorized user, etc.

Since you tried to dispute it but were unsuccessful, it may appear to be a valid debt and shows your responsibility? Did the credit reporting agency notify you of the reason?

If not credit seeking, one option would be to wait for it to age off your report in 7 years from DoFD.

Your other option would be to see of original creditor will accept PFD Pay For Delete.

[AllZero]

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@Anonymous wrote:

@AllZero @Please see my reply, I forgot to tag you the first time, sorry

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@Anonymous  ETA Do yo mind sharing who is the original creditor? Some are easier to work with than others.

[Anonymous]

@AllZero  It's from first premiere credit card. It says individual account and I think that's kind of what irked me in the first place to just ignore it. I didn't know he stopped paying until they called my cell asking for him. I explained several times it was his card and his responsibility but I did give up my social and put my name on the line when he was applying. I had a card issued with my name, but never touched it, as it was his account. They weren't listening. I tried a dispute, but it didn't work. But I want to get things clear for myself and it's sitting there. I have this as a charge off and one collections of my own I plan to pay in the next 2/4 months. Zero lates on my cards, zero late on my car loan so this is a sore spot. When you say 7 years from first derog, is that 7 yrs from 2014 when he first got a 30, (he caught up briefly after the first one) or 7 yrs from 2013 when he first got the card. If it's only 6 months from falling I might leave it. If it's 18 months, then I want it gone.