Many consumers are under the incorrect assumption that when they pay off a collection account it will increase their credit score. However, whether you have paid or unpaid collection notations on your credit report, it is a negative thing. As long as your report shows that you did not pay a bill on time, other creditors will still view you as a lending risk when compared to others with no collection notations on their credit reports.
So, if it doesn’t improve your score to pay your debt, why should you pay it? You may try to negotiate the removal of the negative notation from your report as part of your agreement to pay. Although this strategy makes sense, it doesn’t always work.
Because creditors and lenders rely on the information reported by credit reporting agencies in order to make their lending decisions, so the reporting bureaus do not want creditors to remove accurate information. As a result, many creditors inform the consumer that they cannot remove the notation from their report, but that the consumer should dispute the account once it has been paid.
Disputing a paid collection account used to work routinely. However, because collectors do not want to damage their relationship with the credit bureaus, this strategy has become much more difficult for consumers to accomplish.
So, what should you do? Let us help. Negotiating with debt collectors can be tricky business. We have been doing it for years and we can help. We not only ensure that the debt is legitimate, but we have developed a Debtor Protection/Settlement Plan that is like no other. No other plan offers the protection of experienced, knowledgeable, and determined consumer protection lawyers. No other plan allows you to keep your own money in your own pocket. No other plan allows you to make changes as needed. No other plan places a “wall” between you and your creditors so they cannot contact you, PERIOD. No other plan compels collectors to prove up what they claim. This plan is one of the reasons Fitzgerald Campbell is California’s premier debtor protection law firm.
Take the first step to resolving your debt problems today by contacting us for a FREE initial consultation. The attorneys at Fitzgerald Campbell represent debtors all over the State of California in debt settlement, collections harassment and credit card lawsuits. If you have a matter relating to a debt you owe, contact us today by calling (844) 431-3851 for a consultation.