topic Re: Collection Agency Question in General Credit Topics

Collection Agency Question

Ariel — Thu, 18 Oct 2007 11:50:58 GMT

I'm trying to repair my credit. When my wife and I bought our house almost four years ago, my credit score was around 700.. but now it's in the mid 400's, which is obviously terrible. Most of the problem is high balances (nearly everything was close to max, or at max), but I just paid off ALL of my credit cards this month (about $20k). The other negative I have on my report is three collection items, two of which are showing as unpaid. However, I have no idea what these are. In the MyFico report, it's just showing an ID number for the collection agency as opposed to the name, and the referenced account is showing as "Not on file." So how do I figure out what these are? I'm not getting any calls or letters from any collection agencies, so I really have no idea what they are. I guess I could dispute them, but if they're valid, I'd rather just pay them off.

Re: Collection Agency Question

Anonymous — Thu, 18 Oct 2007 12:02:18 GMT

Pull your annual Reports or Reports directly from the CRA's to get the names and addresses of the Collection agencies. Send a PFD. Just paying the CA's will actually lower your score.

Re: Collection Agency Question

Ariel — Thu, 18 Oct 2007 12:06:19 GMT

Thanks... what is a PFD?

Re: Collection Agency Question

Anonymous — Thu, 18 Oct 2007 12:17:51 GMT

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=11303&jump=true

Re: Collection Agency Question

Ariel — Thu, 18 Oct 2007 12:24:57 GMT

Thanks, that's helpful. What about the one that I actually did pay, that still shows up on my report? Is there anything I can do about it now, or should I just wait for it to disappear?

Re: Collection Agency Question

Anonymous — Thu, 18 Oct 2007 12:29:31 GMT

Write a GW letter.

(find a link in the Credit 101 thread)

Re: Collection Agency Question

Ariel — Thu, 18 Oct 2007 12:30:36 GMT

Thank you so much for the help!

Re: Collection Agency Question

Anonymous — Thu, 18 Oct 2007 12:33:36 GMT

Your welcome.

I highly recommend spending some time reading here. There is a huge amount of valuable information to glean.

Good luck to you..