Paid Recent Collection

[Anonymous]

I've probably asked a version of this before, but as my Efx is as clean as it is going to get and this one item remains, I thought it might be easier to answer.

Current Efx is 654.

2 Yo CitiCard $10,300 Limit/$100 Balance
2 Yo CitiCard $7,300 Limit/$45 Balance
11 Yo Citicard $7,000 Limit/$100 Balance

Cap1 Co which drops off in 6/08 and adds a $1200 CO to my balance

Paid Medical Collection as of 12/07 for $600.

Is that Paid Collection dinging my score big time and/or are new creditors looking at it as a major derog since it is paid? In other words, is it worth the time or $ it would take to get it off?

[Junejer]

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@Anonymous wrote:
I've probably asked a version of this before, but as my Efx is as clean as it is going to get and this one item remains, I thought it might be easier to answer.

Current Efx is 654.

2 Yo CitiCard $10,300 Limit/$100 Balance
2 Yo CitiCard $7,300 Limit/$45 Balance
11 Yo Citicard $7,000 Limit/$100 Balance

Cap1 Co which drops off in 6/08 and adds a $1200 CO to my balance

Paid Medical Collection as of 12/07 for $600.

Is that Paid Collection dinging my score big time and/or are new creditors looking at it as a major derog since it is paid? In other words, is it worth the time or $ it would take to get it off?

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nyccc2, good individual and overall uti. FICO doesn't like you to have more than 50% of your open TLs to have a balance. For instance, if those three CCs are your only open TLs, then you need to have two of them report a $0 balance.

Yes, that paid collection is kicking your butt all over NYC. IMO, it is so worth it to work to get it off.

[Anonymous]

Well, good-ish news. I called the Dr. and paid his collection fees ($250) which I had offered to do anyway (he took care of a bad wisdom tooth on credit!).

I asked his assistant/office-manager, who had already called the CA and asked for it to be removed and told it couldn't be but would be marked as PIF, if she would contact them, as per my credit repair attorney's advice, and tell them the account had been reported in error (bookkeeping etc.) and to remove it.  She wanted verification from the Credit guy who will call her Monday, so I think I'll get that removed which will leave the 2 2 yo Citis, the 11 yo Discover, my new HSBC, the Cap1 CO which falls off in June, and hopefully another 2 or 3 cards I get approved for.

That means by the fall I should have zero baddies, and a range of cards all in good standing and I'll be good about utilization, keeping 1/2 w no charges, etc.

As far as TU goes, I guess I'll live with the unpaid collections, one for 6 months, one for 1 year.

My credit guy does NOT think the DV letter will work, in part because it is 'not timely' and also feels alof of the info is erroneous. So far he has not steered me wrong.  He thinks my time would be better spent at this point suing the CA for reporting the accounts as open and due.

[Anonymous]

Good luck getting that paid collection removed! I paid one if full back in september. I paid the oc, the oc agreed to call the ca and have the collection removed. The ca told the oc that they can't/won't delete it, they only updated to "paid". I just dv the ca a few mins ago, they are playing hardball with me... I've got my boxing gloves on now

[Anonymous]

Yes, that is what they said to my Dr. the first time to. 'We can't, but updated to PIF'. Assholes know exp-atly what that means to your credit, Dr. doesn't so thinks it's all good.

My credit guys said they have to say 'we reported to you in error, bookkeeping mistake, we've straightened out with our client, please remove immediatly'.

At that point, if it is not removed, the CA is breaking the law and can be sued.