whats the best way to pay debt that is hurting credit

Date: Tue, 12/05/2006 - 12:31

Submitted by anonymous
on Tue, 12/05/2006 - 12:31

Posts: 202330 Credits: [Donate]

Total Replies: 4

what is the best way to handle old past due debt that is hurting your credit? Is it easier to just pay off debt then wait to see if it comes off my credit report or is there a better course of action to take first before paying the debts?

Get the debt validated or if you know that the balance is correc

Get the debt validated or if you know that the balance is correct, I would just pay it. If you wait, then it will only hurt your credit more. Usually when you pay off something that is on your report, it will come off within 30-60 days. Is it just a collection or a charge-off??

lrhall41

Submitted by anonymous on Tue, 12/05/2006 - 12:32

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Welcome to the Community :D You need to check to make sure thes

Welcome to the Community :D You need to check to make sure these old debts are not out of the SOL period. If they are not, send the companies debt validation letters to see what they are proposing. You can contact the CRA also, but if it is still a valid debt, they won't do anything. Any more questions, please ask...KAren

lrhall41

Submitted by Bossy4455 on Tue, 12/05/2006 - 14:07

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I would recommend sending in a pay to remove if the account has

I would recommend sending in a pay to remove if the account has been sold by the original creditor. It's worth a shot.

lrhall41

Submitted by FYI on Mon, 12/11/2006 - 19:29

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FYI- sorry to sound stupid, but what's a pay to remove?...KAren

lrhall41

Submitted by Bossy4455 on Tue, 12/12/2006 - 16:29

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