Help with credit report
Date: Mon, 03/30/2009 - 17:55
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I C Systems Collections
Balance: $134
Pay Status: Collection Amount
Date Updated: 08/2004
Account Type: Open Account
Original Balance: $269
Original Creditor: Mid America Bank FSB
Past Due: $0
Remark: Placed for Collection
Date placed for collection: 01/2004
Estimated date this item will be removed: 09/2010
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West Asset Mgmt
Balance: $0
Pay Status: Payment After Charge Off/Collection
Date updated: 09/2008
Original Balance: $62
Date Closed: 09/2007
Date paid: 09/2007
Past Due: $0
Loan Type: Collection Agency Attorney
Remarks: Paid Collection
Date placed for collection: 06/2007
Estimated date this item will be removed: 12/2013
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I am concerned if I pay these it will reduce my credit score, or possibly reset the date these items will be removed from my credit score (I don't want to add 7 years to the date it will be removed). These creditors have not contacted me in years (I don't want them to start calling), but I could pay them off in full. My only concern is my credit score, and how a mortgage loan officer would see this.
I hope someone can give my some good advice, and would be so greatful if I can improve things enough to buy a home. Thank you !!!
Paying off a debt will not reset the seven year listing period i
Paying off a debt will not reset the seven year listing period in your credit report. It may however reset your statute of limitation if it has already expired. So before you pay off the debt to I C Systems Collections, you should check whether the SOL on the debt has expired or not. If it has expired, you need not pay them off, because even if you pay them off, your score will not improve, instead your SOL will again restart.
Thank you very much for your reply. ??I will check into the SO
Thank you very much for your reply. 
??I will check into the SOL on the I C Systems Collections. Should I then try to send to West Asset Mgmt a "pay for delete letter for settlement"? I don't know how much leverage I have paying them only $62, which looks like it has been charged off already.?? I read somewheres that paying these off would make my credit score go down. I would just pay them both off if I wasn't concerned it could lower my credit score. Thanks again!
I have checked on the debt to I C Systems Collections. The SOL f
I have checked on the debt to I C Systems Collections. The SOL for my state for 6 years which will be up on 08/2010. So maybe I can try a "pay for delete letter for settlement" with them also. Any advice is appriciated.