cavazos007 Posted August 23, 2005 Report Share Posted August 23, 2005 I have good credit I pay all of my 5 credit cards on time. And I keep them all under 35%. Than a collection account popped up that was mine and I never paid for it. It's for $400.00 dollars. Since it is a new reported collection will it affect my credit even though I have 5 good credit cards all under 34%? Please someone help. I need to know what to do I am about to close on a house in about 4 months...Help!!! Link to comment Share on other sites More sharing options...
Ahntara Posted August 23, 2005 Report Share Posted August 23, 2005 Of course it's going to affect your credit. Credit scores are calculated based on ALL the data in your bureaus. You didn't provide much information about the account. Is it possible to contact the OC and offer to pay in exchange for their withdrawing the account from collection? Either that or PFD with the CA are your only options to getting this removed. One collection account will (more than likely) not tank your scores enough to get denied. If the account stays, your interest rate will be higher, though. So try to deal with this before you get to that point. If you are unsuccessful in getting it removed, suck it up, focus on your goal and get your house. You can pay this at closing and refinance later. Link to comment Share on other sites More sharing options...
cavazos007 Posted August 23, 2005 Author Report Share Posted August 23, 2005 It's an account that I had from Time Warner Cable the collector is CMI and it was placed for collection on 06/05. Do you know if I pay this off will that help my score go up? What is a PFD. Will it help if I dispute this even if it's a new account.? Link to comment Share on other sites More sharing options...
tadmartin223 Posted August 23, 2005 Report Share Posted August 23, 2005 Do you know if I pay this off will that help my score go up?The only way that your score will go up, is if it's gone from your report altogether. What is a PFD.PFD = Pay For DeletionWill it help if I dispute this even if it's a new account.?It can't hurt. It's already on there. Dispute it and if it comes back as "verified", then go to other methods found on this board.You should really read the sticky at the beginning of this forum, as it will really help you out. Good luck! Link to comment Share on other sites More sharing options...
cavazos007 Posted August 23, 2005 Author Report Share Posted August 23, 2005 Thanks alot guys I will try that. I hope it works out. TU 601EX 598EQ 554 Link to comment Share on other sites More sharing options...
cavazos007 Posted August 23, 2005 Author Report Share Posted August 23, 2005 Okay I just looked at the collection letter and my credit report and there is 2 different amounts reporting on the same account. Why is that. It says$439.00 credit limit or original amount.$375.00 recent balance as of 06/2005. Then it says collection account $375.00 past due as of 06/2005. I don't get it. Can someone help me understand this nonsense? Link to comment Share on other sites More sharing options...
tadmartin223 Posted August 23, 2005 Report Share Posted August 23, 2005 It appears that $439 was your credit limit/high balance and $375 is what your balance was at the time that you stopped paying the bill. What is the last acitivity date, if there is one? Link to comment Share on other sites More sharing options...
cavazos007 Posted August 23, 2005 Author Report Share Posted August 23, 2005 The last activity date was 05/2005. So what amount do I have to pay? Link to comment Share on other sites More sharing options...
tadmartin223 Posted August 23, 2005 Report Share Posted August 23, 2005 Is it a collection agency, or is it the CC issuer that is reporting the card? Link to comment Share on other sites More sharing options...
cavazos007 Posted August 23, 2005 Author Report Share Posted August 23, 2005 It's the collection agency that is reporting that amount. Link to comment Share on other sites More sharing options...
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