newbie question

[Anonymous]

First of all, let me say thanks for all the help you guys give on this site. My question is that i have 2 collections on my report with a total of $437 I've tried to get PFD's with no luck. Should i just pay this amount and forget about it the debt is only a year old and if it shows as paid will it have any affect on my fico score good or bad

[MeganML84]

Paying a collection usually has little to no effect on your credit score.

[SmartCookie]

Who did you offer a PFD to?  OC or CA?  Did you do an actual PFD letter, or just call?

Have you determined if the OC still owns either debt?

Are both collections with the same OCs or CAs?

Are either or both collections medical bills?

Don't run out and pay because they said no PFD.   You've got some options to go thru first, including a DV if this is with a CA. 

[Anonymous]

Thank you guys here's a little info  the OC sold the debt to CA on both collections it was from some catalog orders my wife placed last year and forgot about. The ca says that they will report it as paid on my credit report which i think won't help me at all maybe i need to try the Dv angle after i learn what it is i will look that up now

[Anonymous]

When it comes to trying to work with a CA there are somethings to remember:

First find out if they need to be licensed,registered or bonded in your state. Does it  change if they OWN the account. 

Always DV a CA!!!!!  Never talk to them on the phone (everything in writting) Never sign any DV letter (just type your name).

Always know your SOL.....in your case because this is a new debt SOL doesn't apply.

If they answer you DV within 30 days and supply the correct info.  Send a PFD!!  Always try for a PFD (less then amount owed or full amount)  before PIF. A PIF will stay on CR for total of 7-7.5 years...from DOFD or DOLA from original OC  not the date the debt was sold!

Send a DV  CMRRR!!!!