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Inching closer to 700 FICO: what should I do about these 2 issues?

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Couple of "to the point" issues, so I'll just lump them both into one thread:

1) Chase(great record keepers) is still appearing on my report. Had 2 credit card accounts charged off and only paid off one of them. They both appear as paid charge-offs now. Wolpoff sued me and I settled so they updated it as paid. Both are from 2002, and will fall off next year. They are listed as Paid chargeoffs. Can this still be hurting my score much since it's 6 years ago? Tried everything, so it's safe to say they'll be there til next yr! They even had copies of my signature on the app from my college days when I applied...did I mention THEY'RE GOOD RECORD KEEPERS?

2) A magazine club (70.00) appeared on my CRs as well. I didn't pay them b/c they kept sending books and charged for them whether I requested new novels or not. Now, I DV'd them and it disappeared on all 3 reports. My score was in the lower 500s then and is now at 673. They've been writing me letters again and I'd hate for it to reappear on my report and kill my NEWLY IMPROVED score. Should I just pay them the 70 bucks to avoid the risk? Keep in mind, they don't have a SS# on me, so I'm assuming if it reappears a dispute will nip it in the bud again. Would u pay the 70.00 for peace of mind or is that likely to wake a sleeping giant?

-BB

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As for your first question, the impact of the negatives has greatly diminished especially that they are now six years old and ready to drop off.

But the issue are the lenders that have flags set up to catch anything negative. You have a great score but some of the prime and nearly all of the super prime outfits have triggers set up to identify that stuff even though it is of minimal value. And that is probably more apparent now since so many outfits are jacking up interest rates and terms over just about anything because of all of the credit problems.

As long as you don't have your heart set on any super-prime outfits, then I wouldn't worry too much about it. There are still a good handful of prime outfits that will cater to that high 600 score.

So continue to exercise responsible credit behavior and don't worry about the immediate future. Your real goal is to practice responsible credit behavior for the long term (like for the rest of your life) and you will find your scores shooting into the 700 club...

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As for your first question, the impact of the negatives has greatly diminished especially that they are now six years old and ready to drop off.

But the issue are the lenders that have flags set up to catch anything negative. You have a great score but some of the prime and nearly all of the super prime outfits have triggers set up to identify that stuff even though it is of minimal value. And that is probably more apparent now since so many outfits are jacking up interest rates and terms over just about anything because of all of the credit problems.

As long as you don't have your heart set on any super-prime outfits, then I wouldn't worry too much about it. There are still a good handful of prime outfits that will cater to that high 600 score.

So continue to exercise responsible credit behavior and don't worry about the immediate future. Your real goal is to practice responsible credit behavior for the long term (like for the rest of your life) and you will find your scores shooting into the 700 club...

Thanks a million. #1 asked and answered! Good news being that there's little I can do about it at this stage anyhow. :)++

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I have a similar situation. A small dollar amount but it just isn't my debt.

On one hand, I could pay it to get rid of it. But on the other hand, it isn't my debt and it is just the principle of the thing.

If you do not have a need for new credit, I would just let it get old and fade away. If you do need some new credit, maybe just pay it off.

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How old is the magazine stuff from? is it recent or dates back to college too?

Youd could PFD them, make sure you get the agreement in writing.

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How old is the magazine stuff from? is it recent or dates back to college too?

Youd could PFD them, make sure you get the agreement in writing.

Probably 2001/2002. But remember it's no longer on my report. I'm thinking dodging them is the best answer at this point. If I pay, they may decide to place it on my credit just to be spiteful!

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That old I wouldn't pay or negotiate it.

If it were to show up, I just had a similar case $94 collection from 2001. It should up on my report late 2007 and the CA re-aged it. I dv'ed and ITS showing them a great printout of all the other FCRA lawsuits the've had sending them away, quickly clearing the report. In fact according to some here and case law, starting to report past SOL could constitute deception and yet another violation. I couldn't find the article, but I'll keep searching.

In your case, I would not ignore the dunning letters and write a strong/well worded DV and clearly state it is SOL. Make it clear to them that even reporting this could constitute a violation - that way they can't claim bona fide error when you sue them.

Attaching other dockets against them shows your intent and the research you are capable of. It worked like a charm for me.

http://dockets.justia.com/

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