Want this question answered?
no
Paying a collection agency may not be the best way to repair your credit or protect your privacy. There are situation that you may find your self in and have to pay a collection agency to to accomplish a short term goal such as buying or refinancing a home. If you are just in general collection agency hell then paying may do you more harm than good. While I would NEVER PAY A COLLECTION AGENCY. How you wish to handle your individual situation is a personal choice. If you do need to pay them off make sure you do it in a way to not cost you future heart ache and pain...
No the collection will not be removed from the credit report. They will show it paid in full.
No, as they are the legal agent of the original Creditor and the arrangements made with the collection agency are binding on the original Creditor.
Paying the collection agency will clear up your account much quicker and some creditors will return the payment to you if you send it directly to them. Most creditors sign a contract with a collection agency and cannot discuss the debt with the debtor once they place it with the agency, they must refer all correspondence, communications and payments to the agency for the life of that contract.
no
The collection agency typically does not report to the credit bureaus, the original lender does. Lenders report to the bureaus, collection agencies collect on delinquent debt.
Paying a collection agency may not be the best way to repair your credit or protect your privacy. There are situation that you may find your self in and have to pay a collection agency to to accomplish a short term goal such as buying or refinancing a home. If you are just in general collection agency hell then paying may do you more harm than good. While I would NEVER PAY A COLLECTION AGENCY. How you wish to handle your individual situation is a personal choice. If you do need to pay them off make sure you do it in a way to not cost you future heart ache and pain...
how to get rid of the money that you owe from collection agency without paying them and become good credit again
This is a very bad signYou either:Have not been paying and they can Foreclose on your houseThey are trying to scam you and this means that your personal loan info is out there.
No! The only obligation of the collection agency regarding a debt is to accurately report the debt...i.e. balance outstanding, current status, and payment history. However, if you are paying or contemplating paying a collection agency, it would be wise to negotiate a positive outcome...i.e. the total removal of the account from your credit profile in exchange for payment. This should be negotiated prior to paying the collection agency and the agreement should be in writing.
No the collection will not be removed from the credit report. They will show it paid in full.
No, as they are the legal agent of the original Creditor and the arrangements made with the collection agency are binding on the original Creditor.
Please can someone answer this question for me
Get in touch with a local collection agency and ask to speak to someone in sales. They will either help you or know another agency that can service your debt. You can also post them on http://www.clientcritic.com for other business owners to see. The site is used to help business owners collect on their bills by leveraging the value of posting them in front of other business owners. Check it out! It is free!
yes
you "satisfy" a judgment by paying balance in full or settlement. but understand that once a judgment has been issued by a court then there can be no one else that does this.