Jump to content

Sign in to follow this  
jig4ev04

Bad Debt Settle or pay full

Recommended Posts

I have just got off the phone with a collection agency that wanted a payment for a bad debt i have. I asked for a payed for deletion they said no because of the fair credit act. He said that i can pay the full or pay a settlement. he claimed that paying in full is better for my credit. I live in NJ so should i pay it in full or settle?

Share this post


Link to post
Share on other sites

As usual, a collector lied to you. Paying it will not help your credit one point. The fact that a collection is being reported is a negative. Paying it will show it is paid, but it will show as a collection. It's either pay for deletion or nothing.

Share this post


Link to post
Share on other sites

ok so I guess ill leave this as unpaid? it says bad debt placed for collection on my credit report. I wanted to get a home equity loan will this interfere with it?

As usual, a collector lied to you. Paying it will not help your credit one point. The fact that a collection is being reported is a negative. Paying it will show it is paid, but it will show as a collection. It's either pay for deletion or nothing.

Share this post


Link to post
Share on other sites

Paying it does not usually improve your credit. Disputing items can often get them removed. Read a little bit - try Psychdoc's credit repair seminar for starters.

Share this post


Link to post
Share on other sites

My fico score for equifax is 701 should i care about the bad debt?

Paying it does not usually improve your credit. Disputing items can often get them removed. Read a little bit - try Psychdoc's credit repair seminar for starters.

Share this post


Link to post
Share on other sites

Not enough information to answer that. Why were you concerned about it to begin with? What do you want to do with your credit? What do you need, high score or clean credit?

Share this post


Link to post
Share on other sites

hes saying if i pay it will get rid of the charge off and say paid in full. will this help in the credit report?

My fico score for equifax is 701 should i care about the bad debt?

Paying it does not usually improve your credit. Disputing items can often get them removed. Read a little bit - try Psychdoc's credit repair seminar for starters.

Share this post


Link to post
Share on other sites

HELP!

I am a newbie to this forum. I am seeking some advice about dealing with a Junk Collector, Capio Partners in TX. I pulled my credit report and noted that a collection account is on my credit report from this agency. I was never contacted by Capio and they never validated the debt. This debt is for a medical bill which a paid to a hospital via Quality Asset Recovery (QAR). I sent a validation letter to Capio and spoke to a lawyer b/c this is the second time I have had a collection agency put a debt on my credit report that was paid in 2007.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×

Important Information

Guidelines