Re: Ex wife collection on debt I guaranteed
10-02-2012 12:21 PM
Welcome to the forums!
I'd suggest reading the following:
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.
Unfortunately paying a collection agency won't help your FICO score at all. It doesn't matter if you owe $10,000 or $0, the impact per FICO is the same. However, you can mail a GW letter asking the collection agency if they wouldn't mind deleting. Some will if paid.