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Established Member
Rocd
Posts: 41
Registered: ‎01-13-2013

WHY pay a CA or JDB when it won't improve your score?

[ Edited ]

Assuming your not worried about getting sued or it's not apart of your mortgage agreement and they won't do a pfd the what is the point of paying them?


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Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: WHY pay a CA or JDB when it won't improve your score?

Regardless of who owns or is attempting to collect, unpaid delinqent debt lives until satisfied.

 

Expiration of SOL provides an absolute affirmative defense should you be sued, so that threat can go away.

 

Expiration of credit report exclusion periods will thereafter block others from gaining knowledge of the unpaid debt by making an inquiry and receiving your credit report.

However, their are other possiblities for future creditors or businesses to become aware of its presence.  For example, affiliate sharing of information or simply asking if you app for new credit whether you have any unpaid, delinquent debt.  Stating no based on CR exclusion might be a bit less than honest.

 

Additionally, debt collectors can continue to take any legal means to collect the debt, such as letters or CR inquiries.  You can block communications from them by sending a cease communication letter under FDCPA 805(c), but cant prevent legitimate pulls of your CR.

 

And finally, there is the moral issue of obligation.

 

 

Established Member
Rocd
Posts: 41
Registered: ‎01-13-2013

Re: WHY pay a CA or JDB when it won't improve your score?


RobertEG wrote:

Regardless of who owns or is attempting to collect, unpaid delinqent debt lives until satisfied.

 

Expiration of SOL provides an absolute affirmative defense should you be sued, so that threat can go away.

 

Expiration of credit report exclusion periods will thereafter block others from gaining knowledge of the unpaid debt by making an inquiry and receiving your credit report.

However, their are other possiblities for future creditors or businesses to become aware of its presence.  For example, affiliate sharing of information or simply asking if you app for new credit whether you have any unpaid, delinquent debt.  Stating no based on CR exclusion might be a bit less than honest.

 

Additionally, debt collectors can continue to take any legal means to collect the debt, such as letters or CR inquiries.  You can block communications from them by sending a cease communication letter under FDCPA 805(c), but cant prevent legitimate pulls of your CR.

 

And finally, there is the moral issue of obligation.

 

 


Thank you for this post. I suppose this is important to consider in the long term but I was thinking in the term 3 years time.

 


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Shogun
Posts: 12,874
Registered: ‎04-15-2011

Re: WHY pay a CA or JDB when it won't improve your score?

Plus there's the bottom feeder problem that arises.  These zombie debts tend to wind up in their hands.  The FDCPA means absolutely nothing to some of these.  They will harass, threaten, etc. even though it is illegal, they really don't care.


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Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: WHY pay a CA or JDB when it won't improve your score?


Shogun wrote:

Plus there's the bottom feeder problem that arises.  These zombie debts tend to wind up in their hands.  The FDCPA means absolutely nothing to some of these.  They will harass, threaten, etc. even though it is illegal, they really don't care.


And lest we forget, that each time a bottom feeder acquires the debt, they report another big, fat Collection on your credit report!

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Established Contributor
awdsmama
Posts: 755
Registered: ‎01-20-2012

Re: WHY pay a CA or JDB when it won't improve your score?

Some of them will agree to delete if you pay.  I've paid a few that took a PFD and that DID help my score since it disappeared ;-)

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