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I am using greenpath for all my credit cards. They are all current on payments but the accounts are closed. I have a couple of accounts that have sold to collection agencies. Has this happened to anyone else or is this normal?

 

 

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debt management programs may not stop the accounting requirements for accounts >180 days late. What does the agreement you signed with greenpath say regarding whether or not accounts were brought up to current?

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All of my accounts have been closed. They are all current and all have agreed to the plan. Greenpath explained sometimes the creditors will sell your account while your in debt management even after they agreed to the proposal. I was told to send them every letter I receive so they can start the proposal all over again. I will add that greenpath was able to get my cards down to 1.9% so I will be able to pay of my debt faster. My scores did drop to 550 across the board. I do have 4 credit card accounts still opened that have 10 plus years of good payment history. I was able to talk them down on the interest myself. I have 5.9% for the next 12 months. I have two open auto loans at 4% that are in good standing. I am concerned that the collection agencies will put those accounts on my reports while I am paying them off. I have no plans to purchase anything over the next few years however I don’t want to have collections on my reports for the next 7 years.


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On 10/26/2018 at 11:03 PM, Heatherlbj said:

All of my accounts have been closed. They are all current and all have agreed to the plan. Greenpath explained sometimes the creditors will sell your account while your in debt management even after they agreed to the proposal. I was told to send them every letter I receive so they can start the proposal all over again. I will add that greenpath was able to get my cards down to 1.9% so I will be able to pay of my debt faster. My scores did drop to 550 across the board. I do have 4 credit card accounts still opened that have 10 plus years of good payment history. I was able to talk them down on the interest myself. I have 5.9% for the next 12 months. I have two open auto loans at 4% that are in good standing. I am concerned that the collection agencies will put those accounts on my reports while I am paying them off. I have no plans to purchase anything over the next few years however I don’t want to have collections on my reports for the next 7 years.


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The collection accounts can only stay for 7 hears from the date of first delinquency. The purchase of the debt does not restart the 7 year clock.

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