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ellesig4

If I paid a maxed out credit card....

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....right this second, that's listed as a collection account and got it moved to a zero balance (I've tried PFD) do you think I will see any kind of jump in my score, using a rapid re-score?

 

All Opinions welcomed <_<

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....right this second, that's listed as a collection account and got it moved to a zero balance (I've tried PFD) do you think I will see any kind of jump in my score, using a rapid re-score?

 

All Opinions welcomed <_<

 

No.

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....right this second, that's listed as a collection account and got it moved to a zero balance (I've tried PFD) do you think I will see any kind of jump in my score, using a rapid re-score?

 

All Opinions welcomed <_<

PAID COLLECTION is the same score wise as an up-paid one

 

(so the people say who have been there done that)

 

You mention RAPID RESCORE...you in trying to get a mortgage???

Edited by GEORGE

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....right this second, that's listed as a collection account and got it moved to a zero balance (I've tried PFD) do you think I will see any kind of jump in my score, using a rapid re-score?

 

All Opinions welcomed <_<

 

It's my understanding that is reallly doesn't make much difference if it's a paid or unpaid collection as far as score goes, but that mortgage companies like for you to pay them off. I wouldn't expect a big jump in your score.

 

Somebody please correct me if I'm wrong.

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Thought so.

 

I've done everything that I can to clean up my reports (thanks to this forum) but then only thing that will help further is time and continued good behavior...but I don't have time there is a house I want now <_<

 

Pretty close to giving up at this point...

 

Will probably pay that low balance card off anyway or at least continue to argue with the CA until they accept a PFD...though according to my loan-guy that won't do much either...

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the only time it will help your score OR your mortgage if its reported by the OC and NOT a CA. For instance, my Cap1's (two of them) show maxed out so it hurts my utility therefore lowering my score BUT there is no CA on my report for them. If I paid their assigned CA, then it would report 0 on my reports from Cap1 and help my utility.

 

Now with that being said, I haven't paid them nor am I going to. I got my scores high enough without doing it and still have 4 medical collections on Experian. If you have any active credit cards reporting a balance, then pay those off FULL that gave me the boost I needed.

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the only time it will help your score OR your mortgage if its reported by the OC and NOT a CA. For instance, my Cap1's (two of them) show maxed out so it hurts my utility therefore lowering my score BUT there is no CA on my report for them. If I paid their assigned CA, then it would report 0 on my reports from Cap1 and help my utility.

 

Now with that being said, I haven't paid them nor am I going to. I got my scores high enough without doing it and still have 4 medical collections on Experian. If you have any active credit cards reporting a balance, then pay those off FULL that gave me the boost I needed.

 

You're in a different boat though, the OPs showing a CO and you're not.

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Ok, along the same lines (in case you guys missed the theme here I'm hoping for a quick bump in score) the third trade line that I have is a student loan that I've had in forbearance for awhile. The forbearance ends soon and I was planning on renewing it, but what if I were to let the account go active, and bring it up to date by paying a large lump sum of 12 months worth of payments? Do you think that would help any, and reflect in a rapid re-score?

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the only thing to concentrate on for a quick score boost is paying off credit cards.. that is what I had to do which is what I suggested. I have 6 student loans reporting at full balance and it hasn't affected the score boost at all...

 

Do you have open credit cards right now that have a balance on them?

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....right this second, that's listed as a collection account and got it moved to a zero balance (I've tried PFD) do you think I will see any kind of jump in my score, using a rapid re-score?

 

All Opinions welcomed :lol:

 

No.

 

:huh:

 

 

the only time it will help your score OR your mortgage if its reported by the OC and NOT a CA. For instance, my Cap1's (two of them) show maxed out so it hurts my utility therefore lowering my score BUT there is no CA on my report for them. If I paid their assigned CA, then it would report 0 on my reports from Cap1 and help my utility.

 

Now with that being said, I haven't paid them nor am I going to. I got my scores high enough without doing it and still have 4 medical collections on Experian. If you have any active credit cards reporting a balance, then pay those off FULL that gave me the boost I needed.

 

You're in a different boat though, the OPs showing a CO and you're not.

 

 

I'm under the impression that if you pay off the CO whether or not it's reported by the CA or OC that your scores won't rise whether or not it affects your utilization.

 

 

really? I have 2 Cap1's reporting a CO and have EVERY MONTH .. it updates monthly... I am in no different boat..

 

Your post didn't mention you having any COs,... just accounts that were maxed out, hence, my response...!!!

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Ok, along the same lines (in case you guys missed the theme here I'm hoping for a quick bump in score) the third trade line that I have is a student loan that I've had in forbearance for awhile. The forbearance ends soon and I was planning on renewing it, but what if I were to let the account go active, and bring it up to date by paying a large lump sum of 12 months worth of payments? Do you think that would help any, and reflect in a rapid re-score?

 

 

No, being that it is an installment loan it is reflecting positively (and aging) as long as it is showing as current, regardless if it is current due to deferment, forebearance or payment activity.

 

Someone can correct me if I'm wrong.

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Paying an old CO will most likely lower your score actually. The older the chargeoff, the less impact it has on your score. Paying it would change the date of last activity to current which would mean it would again have maximum impact.

 

EDIT:

ALthough that would depend on how its reporting..if its reporting as revolving it could be affecting your utilization which may be bringing you down worse than the collection status.

Edited by jtoast

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Hold the phone here, if it's reporting a balance you actually might, as it would bring your utilization down. Certainly won't do you much good in the long run, but if reports a balance that is a significant percentage of your available credit, it might net a short term boost.

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