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Do I pay collections?

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Member

Do I pay collections?

I'm in the rebuilding stages and now have about 5 positive trade lines. 2 installment loans current and credit cards showing showing zero balance but 1 shows 1% balance. I have 4 charge offs. 2 different collection agencies showing same accounts on 2 different trade lines. The other CA wont PFD. They are small balances that I can pay. Why pay if they dont delete? Even if paid, potential creditors will only see the negative mark. Will most potential creditors see zero balance and think differently? Should I just maintain the positives that I have now? Scores are stuck in the 530ish range.
Message 1 of 6
5 REPLIES 5
Community Leader
Mega Contributor

Re: Do I pay collections?

So they stop updating for the most part. 

It's your choice how to proceed, but if they wont do PFD (dont give up too soon) paying them is the next best thing. 

EX 759 EQ 774 TU 753


Message 2 of 6
Member

Re: Do I pay collections?

Just to add... they are still reporting as no payments every month
Message 3 of 6
Senior Contributor

Re: Do I pay collections?

That’s why Remedios is saying that paying it is the way to go even if they refuse a PFD. Paying it off stops the updating. At that point it starts to age and your scores can begin to recover.


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Message 4 of 6
New Member

Re: Do I pay collections?

Were you able to validate the debt with a 609?

Message 5 of 6
Member

Re: Do I pay collections?

I tried to 609 but they all came back as verified. I'm just looking to try to get qualified for an auto loan with NFCU. I know if they deny me,I might can show receipts showing that they are paid.
Message 6 of 6
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