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Re: reposting my question/paid vs unpaid collections


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Posted by Marvbear (24.92.16.51) on March 01, 2004 at 21:13:41:

In Reply to: reposting my question/paid vs unpaid collections posted by catballou on March 01, 2004 at 15:28:23:

Catballou:

I am in the credit granting business. I totally agree with everything Why Chat has said regarding this issue.

A collection is a COLLECTION IS A COLLECTION IS A COLLECTION. Makes no difference to me in the extension of credit! If the collection account is paid, one runs the substantial risk of the collection agency illegally reaging the account and making it stay on your credit file for a longer period of time.

Paid or unpaid will not affect any decision made by me. And i positively assure you that having a collection account paid WILL NOT increase your credit score.

I you do not pay it, there are many avenues one can take to dispute this entry from your reports. If you DO PAY it, the credit line will HAUNT you for a full SEVEN years.



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