no you do not
if you pay the collection agency you can get back in good credit standings , ifyou dont they can get a judgment against you, and garnish your wadges , if they do a charge off it stays on your credit for up to 10 years know and it is harder to get credit with a charge off
Yes you tell the collection agency you will pay ONLY if they can give you a letter that say they will delete the item from your report it's call pay for deletion
Your credit card because once you pay it off, the collection agency would quit annoying you all the time. They would be satisfied because they will get a part of the money you pay to your credit card. :)
No. Once it is sent to a collection agency the company has closed the credit card.
Always continue to pay all your bills on time and keep your balances low. You can try and negotiate with the collection agency to remove the collection off your credit report upon final payment, but they might not agree. You can also try to dispute the collection to the credit bureaus, but it will most likely be verified unless the collection is paid off already.
i think ist against the fdcpa laws.
Yes, but only if it is with the original creditor and not a collection company.
Not much other than having the collection marked from unpaid to paid. If you are paying off credit collection companies, negotiate to get a letter from them telling you that the amount you are paying is the balance as agreed and that they will remove it from your credit report. Do not pay until you get that letter. If you pay without doing that, it will stay on your credit report for about 3 years depending on when the collection was first put on your credit report. The fact that you paid it already just says on your credit report that instead of unpaid the collection is marked as paid. If you already paid either repair your credit or get a reputable firm in the BBB who has a money-back guaranteed policy.
A credit score of 450 is poor. You have far more poor credit than one collection. You should pay off your collection and make every effort to bring current the other accounts that are passed due. An average credit score would be in the neighborhood of 625. You have a long way to go.
You pay the collection agency.
If you can't pay off the debt in full, you can offer a payment agreement to the collection company. If they accept, you will have to pay as agreed to avoid further collection action and/or garnishment.