Re: would it help?

Posted by MCM bait (66.149.179.202) on March 01, 2004 at 00:45:00:

In Reply to: would it help? posted by wentwrong on February 29, 2004 at 23:53:01:

You will *not* clean up your credit by paying MCM!! If you pay them their agreed-upon settlement offer, they will mark their tradeline on your credit report as PAID and it will sit on your credit report for seven years from the date they bought the account. As many on this board can attest, a paid collection account on your CR hurts as much as an unpaid account. If you don't pay MCM, all tradelines associated with the account will fall off seven years from the original default date.

Even worse, if you pay MCM, they will sell the balance (over $600) to another CA. You'll be doing this all over again with yet another collection agency and have a *fresh* tradeline on your report!

Follow Ups:

Post a Followup