katie r asked:
I owe MCM and have no problem paying, but it says my credit report will only reflect my payment if the Federal Reporting Period hasn’t passed. I don’t want to make the mistake of paying if I won’t end up with a positive outcome.
How to Fix Your Credit Score
I owe MCM and have no problem paying, but it says my credit report will only reflect my payment if the Federal Reporting Period hasn’t passed. I don’t want to make the mistake of paying if I won’t end up with a positive outcome.
How to Fix Your Credit Score
“Federal Reporting Period” aka “Statute of Limitations”.
Go to the above link and read and then apply the knowledge to your specific situation….
Either way… the question is whether you are still required to pay for this debt. The outcome is the same. Pay it and it will get the notation “paid” added to the account. Which has no effect on improving your score and will not make the account vanish from your report until it is time to fall off (7 years).
Don’t pay it… and it will fall off completely after 7 years of being first time delinquent.
If this is for charged-off credit card debt then there won’t be a positive outcome as charge offs stay on your credit report for 7 years…paid or unpaid.
Write them and ask them to delete upon payment.
Do a Google search for PFD sample letter
If the original creditor is reporting, Midland won’t be able to remove what they are reporting but they can remove what they themselves are reporting, if they agree to do it upon payment.