Not sure what to pay first...
Date: Mon, 03/02/2009 - 11:35
The collection accounts do not show charged off (even though they're several years old), they show us "Unpaid". The negative accounts are varied with some charged offs, etc.
We have a limited amount of money but are trying to get my husband's score up for job searching. Should I send "Pay for Delete" letters to the collection accounts first or the negative accounts? What will influence his credit score the quickest?
Thank you in advance!
It depends on a few things. First off what state do you live in?
It depends on a few things. First off what state do you live in?
On the old accounts when was the last time a payment was made on them? If it is time barred, a payment will do you no good and will probably bring more trouble your way. If the debt is old and time barred, pay nothing. If it is past the 7.6 years for credit reporting, dispute it with your credit reports to have them removed. Dispute with account being too old, not your account or no knowledge of account, whatever fits.
Once we get that part situated, I or someone else will walk you threw the process of paying current accounts and such.
more info
We live in Ohio (just moved here from Texas in August) -
All the accounts are within the 7.5 years they have to be listed from Date of First Deliquency so they're on for a couple more years.
It's been 3-4 years since we've paid on them (wage decrease changed our lifestyle drastically) and some it's been 4 or 5 years (I just forgot about them) since paying.
As I stated, we have a limited amount of funds so I'm not looking to start payment plans (better to not stir it up then him lose his job and start the whole timeframe over) but some of them are just $75-$400 each so I thought perhaps paying them off with a Pay For Delete letter would help improve his score.
Is this a wise plan of action? I planned on sending just 2 or 3 letters at a time (don't want to send too many and have them all accept) but am uncertain whether to start with those listed under the category Collection Accounts or Negative Accounts.
Thanks again!