Re: Best to just not pay?

Posted by Why Chat (209.240.198.61) on October 10, 2002 at 18:48:13:

In Reply to: Best to just not pay? posted by the bally on October 10, 2002 at 14:28:46:

If you pay off a debt that is legally uncollectible, and scheduled to drop off in a year or two, it will be updated on your report as a paid off collection. The date you paid it off will be the starting date of a new 7 year reporting period.

If you DISPUTE to the CRA's the misinformation on your reports, you will find your credit will improve a LOT faster.

PLUS, there are scam con artist collection agencies, who look for accounts being paid off that are over SOL, they will plant false accounts on your report,figuring you need to have good credit right away and will pay them-no questions asked.They do this all the time when there are mortgage lender inquiries and they think they can get away with it.

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