Re: Paying off a debt in collection

Posted by the bally (64.7.1.181) on October 09, 2002 at 18:55:42:

In Reply to: Re: Paying off a debt in collection posted by kelly from nevada on October 09, 2002 at 18:38:51:

Sorry about that confusion.
I made the last payment when the account was current in 98. The origional debt was for 9800 and it was paid down to 1200 with a 2nd mortgage around 6 months later. It was then charged off about 8 months later and the CA's started calling. I chose to ignore the debt until I could pay in full. I want my report to show that I have paid off all past obligations as I am trying to get it clean enough to have my house refinanced in my name(currently worth 200K and loan balance is 80K in my mother's name). Currently my Fica is around 560. My logic is if I pay off ALL debts and keep all current accounts in good standing the score should improve greatly. Then once the house is in my name I can once again enjoy a decent credit rating.

Thanks for all your feedback.

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