simplysilky Posted July 5, 2007 Report Share Posted July 5, 2007 I have a question about paying off a charged-off, closed Orchard credit card that was 1 yr old. Should I go ahead and pay it off? It’s $236. I have 3 accounts on my report ( 1 Orchard, 1 Asset and 1 utility) that I need to get off, maybe my scores will go up…Then I have 2 other accounts from 1997 and 2000. I should leave these on there because of the history? Link to comment Share on other sites More sharing options...
lyle7289 Posted July 5, 2007 Report Share Posted July 5, 2007 Are those accounts you are talking about in collections? Link to comment Share on other sites More sharing options...
simplysilky Posted July 5, 2007 Author Report Share Posted July 5, 2007 Are those accounts you are talking about in collections?Yes, they are. Link to comment Share on other sites More sharing options...
lyle7289 Posted July 5, 2007 Report Share Posted July 5, 2007 Get, in writing, a PFD from the CA before you pay.Paying a collection will do nothing for your score. It will report as a paid collection. Link to comment Share on other sites More sharing options...
bigjohnstud4200 Posted July 5, 2007 Report Share Posted July 5, 2007 Orchard will probably not do a PFD and paying them will not improve you scores. The only thing that will improve a CA is a delete. Link to comment Share on other sites More sharing options...
swtguy Posted July 5, 2007 Report Share Posted July 5, 2007 Since Orchard is a subprime lender with usually low credit limits, I'd also recommend that you seek the advice of a financial planner before incurring new debt. Link to comment Share on other sites More sharing options...
hopelesscred Posted July 5, 2007 Report Share Posted July 5, 2007 I have two Orchard accounts on my CR...one is a PAID charge off and the other is a current no late account. I've sent them a dispute letter and they've only updated with a "customer disputes", they have yet to answer. I will send another letter soon after the 30 day window expires. Link to comment Share on other sites More sharing options...
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