Why is a paid collection bad

Discussion in 'Credit Talk' started by simpleone, Dec 3, 2014.

  1. simpleone

    simpleone New Member

    Hi new at credit repair. Please explain why a paid collection is bad? If you have 4 years until sol, isn't it better to pay?
     
  2. jam237

    jam237 Well-Known Member

    A PAID COLLECTION (score-wise) has the same (or close to it) impact on score as an open COLLECTION.

    IF you are applying for an account that someone will MANUALLY review, they may consider it more favorably, but it doesn't effect your score.

    That's why if you want to pay a COLLECTION, you want to try to negotiate for a PAY FOR DELETE, because the deletion is the only thing that eliminates the score damage that the COLLECTION causes.
     
  3. credit guy

    credit guy Member

    because it went to collections... It tells the creditor that you would wait until it goes to collections to pay it. The creditor rights it off and sells it to a collection agency. They lose money. It still says you don't pay as agreed.
     

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