http://bettercreditblog.org/2007/11/17/reader-question-screwed-by-debt-collector-re-charge-off/ Helping you improve your FICO score, repair your bad credit, and settle collection debt by learning from my mistakes. Wed, 08 Sep 2010 06:22:41 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://bettercreditblog.org/2007/11/17/reader-question-screwed-by-debt-collector-re-charge-off/comment-page-1/#comment-9571 Chris Sat, 20 Jun 2009 16:01:54 +0000 http://www.bettercreditblog.org/wordpress/1969/12/31/reader-question-screwed-by-debt-collector-re-charge-off/#comment-9571 I found this video on YouTube which really opened my eyes to the importance of getting out of debt: http://www.youtube.com/watch?v=50bWUrKAbwU I am sure you will be as amazed as I was. I found this video on YouTube which really opened my eyes to the importance of getting out of debt: http://www.youtube.com/watch?v=50bWUrKAbwU
I am sure you will be as amazed as I was.

]]> http://bettercreditblog.org/2007/11/17/reader-question-screwed-by-debt-collector-re-charge-off/comment-page-1/#comment-9496 Reader Question Screwed by debt collector re charge off The | debt solutions Mon, 15 Jun 2009 23:54:12 +0000 http://www.bettercreditblog.org/wordpress/1969/12/31/reader-question-screwed-by-debt-collector-re-charge-off/#comment-9496 [...] Reader Question Screwed by debt collector re charge off The Posted by root 27 minutes ago (http://bettercreditblog.org) Will illustrates how trusting debt collection agencies can severely hurt your credit how to remove a chapter 7 bankruptcy from your credit report 33 comment s questions amp free negotiation dispute letters is powered by wordpress Discuss  |  Bury |  News | Reader Question Screwed by debt collector re charge off The [...] [...] Reader Question Screwed by debt collector re charge off The Posted by root 27 minutes ago (http://bettercreditblog.org) Will illustrates how trusting debt collection agencies can severely hurt your credit how to remove a chapter 7 bankruptcy from your credit report 33 comment s questions amp free negotiation dispute letters is powered by wordpress Discuss  |  Bury |  News | Reader Question Screwed by debt collector re charge off The [...]

]]> http://bettercreditblog.org/2007/11/17/reader-question-screwed-by-debt-collector-re-charge-off/comment-page-1/#comment-9 Yolanda Tue, 01 Apr 2008 18:01:06 +0000 http://www.bettercreditblog.org/wordpress/1969/12/31/reader-question-screwed-by-debt-collector-re-charge-off/#comment-9 Hi Will, How to avoid a write off? The age of the account past due plays a huge part in how to avoid a write off situation. Settling a debt with a collection agency is not a good thing. You have to act quickly once the collection agency begin to get involved. Because it still will show on your credit report a percentage of the debt was a loss by that creditor. I work for Trans Union as a business analyst with knowledge of credit. My futuristic advise to anyone thinking about paying a collection. If it is not yet 60 days in collections and you can pay atleast 50%...DON'T DEAL WITH THE COLLECTION AGENCY! Thier persuasive tatics are BS. Go to the source which is your creditor depending on time frame. How old is the debt? The earlier the better is important. Because once the collection agency is involved it takes 60 days to hit your report if you are not making any effort to pay. You have time to work out a payment plan with the creditor. But if you discuss with the creditor a payment arrangement that is better than looking for a cheaper way out that will harm your credit anyways. Because dealing with the collection agencies will possibly add an additional record to your report if it is over 60 days. The account will show as a collection and an account with that creditor. You have to be mindful. Before settling the debt make an arrangement that pays the debt in full overtime....3-6 months perhaps...For example if you would have paid to your creditor $867 towords that $1400 with a $533 balance to pay overtime...Your scores would have definately increased more than 4 points even if you were late a few times in the past. Why? Because you paid over 75% of the balance. Which is a plus in the creditor eyes. Depending on your balance owed and ofcourse repayment abilities this works. Thanks for reading. Hi Will, How to avoid a write off? The age of the account past due plays a huge part in how to avoid a write off situation. Settling a debt with a collection agency is not a good thing. You have to act quickly once the collection agency begin to get involved. Because it still will show on your credit report a percentage of the debt was a loss by that creditor. I work for Trans Union as a business analyst with knowledge of credit. My futuristic advise to anyone thinking about paying a collection. If it is not yet 60 days in collections and you can pay atleast 50%…DON’T DEAL WITH THE COLLECTION AGENCY! Thier persuasive tatics are BS. Go to the source which is your creditor depending on time frame. How old is the debt? The earlier the better is important. Because once the collection agency is involved it takes 60 days to hit your report if you are not making any effort to pay. You have time to work out a payment plan with the creditor. But if you discuss with the creditor a payment arrangement that is better than looking for a cheaper way out that will harm your credit anyways. Because dealing with the collection agencies will possibly add an additional record to your report if it is over 60 days. The account will show as a collection and an account with that creditor. You have to be mindful. Before settling the debt make an arrangement that pays the debt in full overtime….3-6 months perhaps…For example if you would have paid to your creditor $867 towords that $1400 with a $533 balance to pay overtime…Your scores would have definately increased more than 4 points even if you were late a few times in the past. Why? Because you paid over 75% of the balance. Which is a plus in the creditor eyes. Depending on your balance owed and ofcourse repayment abilities this works. Thanks for reading.

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