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Quick question about fixing credit


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 3 weeks ago '07        #1
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kuntree_swagger 
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Quick question about fixing credit
 

 
I recently got a few stacks from a settlement, also got a credit limit extension for another few stacks... but i got like five things in collections.. one big one for 1500 and the rest range from 300 to 700 bucks... now four of them are about 1200-1500, Iím wondering if i should

A. Pay them off with the stacks from the settlement
B. Pay them off with credit and use the cash from settlement to pay card payments

What would yíall do..
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 3 weeks ago '17        #2
BenStackN 
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Pay the off the cards that has the highest balances, then knock out those low balance ones whenever you can
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 3 weeks ago '04        #3
Ace2125 
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if they already went to collections you can literally not pay them off by filing a case for proof of belonging to you to the credit bureaus. I recommend u read "Repair your Credit like the pros" by Carolyn Warren
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 3 weeks ago '07        #4
kuntree_swagger  OP
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 Ace2125 said
if they already went to collections you can literally not pay them off by filing a case for proof of belonging to you to the credit bureaus. I recommend u read "Repair your Credit like the pros" by Carolyn Warren
They come off, but can be picked back up... Iíve also heard reaching out directly to the collections company and finding out the bottom number they will take for payoff ... but Iíll look into they book
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 3 weeks ago '04        #5
Ace2125 
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 kuntree_swagger said
They come off, but can be picked back up... Iíve also heard reaching out directly to the collections company and finding out the bottom number they will take for payoff ... but Iíll look into they book
If you don't want to go that route then by all means pay them off. Just make sure you have in writing with the collections to remove themselves off your credit as a agreement before paying. And do not pay them off with credit line, just use the money you have starting off with the smallest accounts.

Also one last note if you decide to pay, then make them prove the debt belongs to you. Negotiate the payoff price. These people pay pennies on the dollar to get you to pay them full price on debt they don't really own.
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 3 weeks ago '07        #6
kuntree_swagger  OP
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 Ace2125 said
If you don't want to go that route then by all means pay them off. Just make sure you have in writing with the collections to remove themselves off your credit as a agreement before paying. And do not pay them off with credit line, just use the money you have starting off with the smallest accounts.

Also one last note if you decide to pay, then make them prove the debt belongs to you. Negotiate the payoff price. These people pay pennies on the dollar to get you to pay them full price on debt they don't really own.
Sadly, they mine.. Iím not tripping of any of them.. but i just wanna get them over with.. especially when Iíll have some huge medical bills rolling over in the next few years.. so itís like i want to clean before that dirt hits me
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 3 weeks ago '20        #7
LuxG 
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I said A my Wife said B... She is also the reason why my credit is getting fixed.
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 3 weeks ago '04        #8
Ace2125 
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 kuntree_swagger said
Sadly, they mine.. Iím not tripping of any of them.. but i just wanna get them over with.. especially when Iíll have some huge medical bills rolling over in the next few years.. so itís like i want to clean before that dirt hits me
I know the debt is yours but it isn't the collection agency debt. They bought it from the bank or whatever that gave you the line of credit at pennies on the dollar. So there is funny business going on when a collection agency hits you up because the original lender have insurance on the debt then sells the debt to a collection agency. Thats why you need to educate yourself on credit man. Stop being scared of these people because your debt isn't even that big where their paperwork is correct to prove it does belong to you. But pay them if you wish just follow steps in my previous post
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 3 weeks ago '07        #9
kuntree_swagger  OP
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 LuxG said
I said A my Wife said B... She is also the reason why my credit is getting fixed.
Ask her why she say B
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 3 weeks ago '07        #10
kuntree_swagger  OP
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 Ace2125 said
I know the debt is yours but it isn't the collection agency debt. They bought it from the bank or whatever that gave you the line of credit at pennies on the dollar. So there is funny business going on when a collection agency hits you up because the original lender have insurance on the debt then sells the debt to a collection agency. Thats why you need to educate yourself on credit man. Stop being scared of these people because your debt isn't even that big where their paperwork is correct to prove it does belong to you. But pay them if you wish just follow steps in my previous post
I will reach out to one of them... itís like 343.00, imma see what that bottom number is , definitely get something in writing on removal and when they report... Iíll keep you posted

 3 weeks ago '07        #11
MELODY 
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Call each collection account and tell them you're going through a difficult time and whats the very low they can settle for, and offer half of that. (BTW: By acknowledging to the collections company that its you the clock restarts and it can't just fall off your report). Settle with all of them. Wait a few months and begin the process of sending letters yourself to the bureaus and knock them off your report.

I recently removed an old collections account on my report recently but this was a year after I had paid it off. Easily removed from my credit report after sending letters.

Throw those credit cards away, but that's a different story.

Good luck.

 3 weeks ago '19        #12
crawlingtulip 
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Don’t call the collection agency and admit to the debt

Send a letter asking for “Pay For Deletion” and offer 30% of the sum

You can also get it removed from your credit report without paying but they have the ability to sue you if it is within your states statue of limitations
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 2 weeks ago '16        #13
popogogo 
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I had a bunch of bullsh*t collections when I was younger.

SEND PAY FOR DELETE LETTER LIKE THIS.

I offered 25% and settled most for 50% or so.

Credit score went from 580 to 788.


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 2 weeks ago '10        #14
bunun  topics gone triple plat - Number 1 spot x1
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 MELODY said
(BTW: By acknowledging to the collections company that its you the clock restarts and it can't just fall off your report).
na thats not how it works
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 2 weeks ago '04        #15
Gold~Ringz 
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From simply emailing three separate debt collection agencies in one morning ,I was able to get around a 60%, 60% and 80% reduction on my outstanding balances by asking the lowest amount they'd take today.

Credit score jumped up by 244 points within the next report cycle.

Good luck.
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 2 weeks ago '07        #16
MELODY 
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 bunun said
na thats not how it works
This is what I was told my a collector once. And I believe this is why they confirm its YOU on a recorded line when you speak with them. I could be wrong this was years ago.



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