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Collection accounts that aren't on my reports.

tag
Restbuy
New Member

Collection accounts that aren't on my reports.

Complete financial idiot here, sorry

 

I have numerous debt collection agencies that are coming after me. Two are on monthly payment plans, but I just got letters from two others in the mail. None of the debt collection agencies are on my reports, and only one of the original creditors are ( it's a 5 year old bill) 

 

How did these affect my credit report and/or score? Does paying them positively affect it in any way?

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1 REPLY 1
JoeRockhead
Community Leader
Super Contributor

Re: Collection accounts that aren't on my reports.

It would help if you could give more specifics... 

  • How many accounts do you have that are charged off by the original creditors
  • How many collection agencies are contacting you

Charge offs and collections are serious delinquencies and have a serious negative impact on your credit the entire time they're on your reports.  While they all might not be showing up on your reports now, they can show up any time.  If they're credit cards, they further hurt you as long as there's an unpaid balance. 

 

Getting them paid before they report might help avoid them being reported at all.  Depending on what the statute of limitations are, It would also help alleviate the chances of them suing you. 

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