YES. That is money that you owe and are legally liable for. Not paying it off is going to do nothing but hurt you in the future
I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed
yes
Having your credit card or any other account 'charged off' or reported as a 'collection' means that your balence had not been paid satifactory up until that point. If you pay these derogatory accounts after they have been charged off or reported as a collection account, and one should always pay them off, then the company should report the new status to the credit bureaus. (this is something you should keep your eye on to make sure they are following protocal). This however, will not remove the fact that they were charged off or in collection at some point. It will simply show the charge off/ collection as being paid in full. With that being said, once the C/O or Collec. accounts are paid, they will still have a negative effect on your credit score for quite sometime, but will have a much lesser effect than having not been paid off. Also, if a derogatory account is not paid, often the company will report the charge off or collection multiple times for years to come. Each reporting will negativly effect your score and in turn, continue to bring your score down. Contacting the companies that are reporting you to the bureaus, either before they go into collections or after, is always a good idea to keep them from pursuing further action against you.
It may be zeroed out w/ the orig company because they sold it to the collection people. DO NOT PAY COLLECTION AGENCIES ANYTHING!! google "fair credit act". lots of info
yes
I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed I have a charged off account at the bank of 146.00 how do I pay that off when I'm unemployed
no
yes
Pay it!
You pay the collection agency.
Having your credit card or any other account 'charged off' or reported as a 'collection' means that your balence had not been paid satifactory up until that point. If you pay these derogatory accounts after they have been charged off or reported as a collection account, and one should always pay them off, then the company should report the new status to the credit bureaus. (this is something you should keep your eye on to make sure they are following protocal). This however, will not remove the fact that they were charged off or in collection at some point. It will simply show the charge off/ collection as being paid in full. With that being said, once the C/O or Collec. accounts are paid, they will still have a negative effect on your credit score for quite sometime, but will have a much lesser effect than having not been paid off. Also, if a derogatory account is not paid, often the company will report the charge off or collection multiple times for years to come. Each reporting will negativly effect your score and in turn, continue to bring your score down. Contacting the companies that are reporting you to the bureaus, either before they go into collections or after, is always a good idea to keep them from pursuing further action against you.
It may be zeroed out w/ the orig company because they sold it to the collection people. DO NOT PAY COLLECTION AGENCIES ANYTHING!! google "fair credit act". lots of info
yes
I would pay the collection account. Try not to let the account get that far that it becomes a charge off. It would be better to pay them all on time, of course. They both do damage to your credit. The charge off is normally paid less than the original charge. After paying, they both will show paid on your credit file if the companies filed them correctly. Make sure you have the company mail you a letter of Debt satifaction with a statement notifying the credit bureau. This is your responsibility to make sure it happens. Good luck..
Pay off your debt.Pay off your debt.Pay off your debt.Pay off your debt.
It is in the best interest of the debtor to not allow access to his or her financial information and most particularly not to agree to an automatic withdrawal from a bank account by a collection agency. The safest method is to pay other means, such as a USP money order with return receipt.
no you do not