Doesn't paying off collections help ur score?

[DAY-Global]

Hello DianeL,

You always need bargaining power and the money you owe can be it.

Never pay off or make normal payments on a debt without the letter stating that they will delete your credit account from your credit reports first.

Remember a Collection Agency does not have your origional bill. Ask them to produce the origional medical with your signature on it or a recorded phone conversation where you gave them permission to treat you.

Attempting the PFD process and offer to not PIF but pay only a percentage of the bill since they can not product the origional bill in exchange for getting it removed from my CRs with ALL Major Credit Bureaus will be your best bet.

Hope this helps.

DAY-Global

Edited to remove personal information.

Message Edited by llecs on 03-11-2009 04:35 PM

[Anonymous]

I am in the exact same boat with Dell situation.  Ther is a lot of mixed advice under this topic.  What did you do?

[Anonymous]

Can you tell me more about Directv deletions?  I have an old one showing up on my bureaus and I'd like to have it deleted?  How did they delete it from yours?

[Anonymous]

can somebody please help.  I had bad credit in college many years ago -- i worked hard for years and years to correct this -- I was at a 722 in Dec of 2008 -- a BMG Music collection from 2004 came on in Jan of 09.  I was not notified at my current address so i had no idea of that i owed the money  -- i find out today when i ran my credit that i had the collection out on me and my score has been reduced significantly even though this was the only negative that occured

I called the collector and they said it would be removed if i paid -- i dont believe them -- i paid the debt because it was mine

Is there anything i can do in order to restor my rating or at least get the collection off the report

[Anonymous]

Would you give more information on you did this; I have 5 collections accounts that have been paid since 2007 and I would like to see if they would take them off my report.  Any help much appreciated.  Congrats on your success.

[Anonymous]

i have a question regarding charge offs. SHould i try and negociate with the original creditor for a lower amount or with the collection agency to get my account paid as agreed?

[Anonymous]

Will paying off a collection make it last longer on my record?  I have a collection that is 5 years old.  If I pay it now, will it renew the 7 yr reporting windo?

[llecs]

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Going-for-800 wrote:
Will paying off a collection make it last longer on my record?  I have a collection that is 5 years old.  If I pay it now, will it renew the 7 yr reporting windo?

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Paying a CA won't make it stay any longer than what it is supposed to. CRTP is 7-7.5 yrs from DOFD and a payment can't change the DOFD.

[fused]

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dubosecreditsolutions wrote:
Paying off your collection accounts "may" help your scores. The more recent the delinquency, the better chance it may improve your score. However, before paying off a collection account, I would recommend negotiating with the collection company to have them agree to delete the negative credit item upon making payment.

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@Anonymous wrote:

Im sitting here reading through the posts and someone posts that paying off collections will not help your score.  Is this true?  All my negs are in collections and i have offered PFD on them.  If they get deleted wont that raise my score?   My utils are only 10%. 

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Not FICO scores.