@Anonymous wrote:
Two years ago I signed up for a gym and I changed my debit card a few months into it. i never went to the gym, so I simply thought it would automatically cancel(month to month). NOPE. They are now charging me $199 and it has gone to collections.
MY CONCERN: If I pay it off, will they report it to the credit bureaus as 'PAID OFF'? As of right now, I dont see anything on my credit report as delinquent. I don't want to them use my payment of the amount as admission and report it to the bureau and report that it was paid off. My motto: if it aint broke, dont fix it.
Also, is there such a thing as 'pay for non-reporting?'
thank you!!
They don't need "an admission" of the debt to report it. They can report it at any time they choose. Here's the thing - It COSTS them money to report an item. Thats why a lot of CA's only report to one bureau or two. By paying it BEFORE they report it, they save additional overhead costs by not reporting it after the fact.
If you think about it, the CRA's have quite a racket - they deal in nothing but Data, they charge furnishers to report it, and they charge consumers and lender to receive it - nowhere do they ever PAY FOR IT.
