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Specific CA reporting question


oompaloompa
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I have a collection that I recently settled. They are reporting that the collection was opened in late 04'. This is true, but the date they are using is when the original creditor first sold off the debt. It has been resold a few times since (none of which appear on my cr for some reason), and the CA that I ended up settling with has only been in possession for about 6 months.

So, my question is: Is it better for my score for the collection to be years old and just now paid, or is it better to have it recently opened and recently paid? Could i force them to the latter as they were not the CA at that time?

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Is it better for my score for the collection to be years old and just now paid, or is it better to have it recently opened and recently paid?

I agree with everyone else, but I'm curious to know. Is there a reason you paid it, like you are getting a mortgage and what was the SOL on it? Paid or unpaid a CA = the same on the CR... Bad Debt.

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I paid it because I have at most 6 months of credit depth. I tried for a cap 1 card and was denied due to "too many open collections". It is my one derogatory item and I paid it becuase it was a minor amount and they agreed to 60% settlement.

From what I understand, a collection is a two part hit:

1. points are lost due to the "past due/balance owing" status of the tradeline

2. points are also lost to the "in collections" status of the tradeline

So i'm hoping that I helped 50%, i did try disputes with no success and I am a perfectionist and very guarding of my report. I am banking that 90 days down the line they will have archived my file. I have a credit repair guy that owes me a favor and he'll hound them to death. He's got inside contacts with that collect. co, deals with them daily.

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