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Collection Agencies

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ronstar7
Established Contributor

Collection Agencies

Just checked the DH's report and I see a collection agency HP him on the 19th, can someone please explain why they do that? Why further mess up someone who is trying to so hard to rebuild. They stone him twice once with the HP and they again when they report the account in collections.

 

All feedback greatly appreciated!

Starting scores 12/1/15 EQ 601, TU 626, EX 601

Current Scores 9/17/17 EQ 686 TU 702 EX 655 Goal 700+ across
UTL 7%
Last Inq: 9/20/17
Message 1 of 5
4 REPLIES 4
09Lexie
Moderator Emerita

Re: Collection Agencies

Sorry this is hindering your efforts to rebuild. Unfortunately, CAs are not in business to help with rebuilding, they simply have a job to do and that is collect on past due accounts.

Don't take the HP's personally, I'm sure they do not its simply business.
Message 2 of 5
RobertEG
Legendary Contributor

Re: Collection Agencies

Review of your CR gives them information on your other indebetness, recent payments, etc., that may provide some indication of your abillity to pay.

It's a legitimate business practice that may influence how they proceed, and is often done prior to making a decision as to whether to initiate legal action.

 

Message 3 of 5
ronstar7
Established Contributor

Re: Collection Agencies


@09Lexie wrote:
Sorry this is hindering your efforts to rebuild. Unfortunately, CAs are not in business to help with rebuilding, they simply have a job to do and that is collect on past due accounts.

Don't take the HP's personally, I'm sure they do not its simply business.

Thank you Lexie, he is trying not to

Starting scores 12/1/15 EQ 601, TU 626, EX 601

Current Scores 9/17/17 EQ 686 TU 702 EX 655 Goal 700+ across
UTL 7%
Last Inq: 9/20/17
Message 4 of 5
ronstar7
Established Contributor

Re: Collection Agencies


@RobertEG wrote:

Review of your CR gives them information on your other indebetness, recent payments, etc., that may provide some indication of your abillity to pay.

It's a legitimate business practice that may influence how they proceed, and is often done prior to making a decision as to whether to initiate legal action.

 


Oh ok, thank you for that info. Although legal still sucky lol but hey what can you do right...

Starting scores 12/1/15 EQ 601, TU 626, EX 601

Current Scores 9/17/17 EQ 686 TU 702 EX 655 Goal 700+ across
UTL 7%
Last Inq: 9/20/17
Message 5 of 5
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