Should I pay this debt off or leave it?

[tosca23]

Hi, I am new to this forum, and would appreciate some advice. I have one debt in collection from 11/2004 and was wondering if paying it off would be better, or if that would make my credit score go down. The debt is only $150 , but my husband said it is better to leave it alone because it will show up for a much longer time if I pay it off. This whole credit thing is so confusing ...I don't want my score to go down or anything, but it seems there is no rhyme or reason it seems to how credit agencies score, so I thought I would ask. If I pay it now, will that reset the origin date and it will be on my account seven more years?

[Trish]

Most of the time, if you pay it, they will just update it as paid. It may not hurt your score but definitely won't improve it.

My advice would be to send them a DV asking for proof of the debt. IF they can provide proper validation, then you should try to arrange a PFD with them (Pay for delete).

I have been trying to find some time to post about the PFD process. If you are unfamiliar with it, I will try to see if I can come back and explain. It has worked for many people including me.

Either way.......send the CA a DV letter. Send it CMRR. There are some sample letters in the Beginner's Credit Info section if you need a guideline.
Also look at the 1 2 punch thread. I would try that as well.

Then I will try to come back and post info on PFDs.
Hope that helps.

[scorch]

Even if you pay it and it gets re aged and shows as paid or just shows as "paid", you can easily have it removed by disputing it. I've since become a perfectionist with my credit so I would push to have it deleted. Asa side note the older it is, the least affect it would have on your score.

Also, you may have better results if you deal with the original creditor over the collection agency.