RJM Acquisitions
Date: Sun, 06/20/2010 - 20:07
Well paying a collection account will not build your credit. Ho
Well paying a collection account will not build your credit. However it will reflect a paid collection. Make sure that you get the settlement offer in writing before you make the payment.
Debt settlement generally lowers the outstanding debt amount by
Debt settlement generally lowers the outstanding debt amount by 40-60%. So, I think you should agree to the offer that the agency has made. However, before making the payments, get the settlement agreement in writing. Also, request the collection agency to report the account as "Paid".
You should also keep in mind that paying off a collection will not help you in increasing your score much. Still, a paid account will have a better impact on your credit report than an unpaid collection.
Hi, It is always wise to go for a settlement program through a
Hi,
It is always wise to go for a settlement program through a good settlement company as they can negotiate the best settlement out for you.The only thing that you need to take care is that there are charges involved which you have to pay along with the debt payments.If you can settle your debts on your own you can definitely save a lot of money.
Whatever may be the situation payable debts are better than non-payable debts as far as your credit reports are concerned!