Credit bureaus will remove some medical debt from credit reports
Medical debt can seriously damage credit but by July 1, a significant number of consumers will have medical collection debt removed.
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Get practical solutions to manage, pay-off and negotiate debt with collection agencies.
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6 Tips To Settle Debt That Has Been Repeatedly Sold
You may be able to negotiate collection debt for much less than what is owed. Read on to discover some tips for negotiating your debts.
What Constitutes Proper Debt Validation
The FDCPA does not clearly set standards as to what is proper debt validation but the court’s have made rulings that can be used as guidelines.
Debt settlement can hurt credit scores
Debt settlement can hurt credit scores because having late payments are essential to settlement, creditors are motivated to settle when you have multiple lates
How to Request Debt Validation from debt collectors
Debt validation is a powerful tool consumers have to use against unfair debt collection. It forces a debt collector to prove you owe the debt.
Remove accounts that are past the credit reporting time period
Original creditor is no longer reporting an account to the credit bureaus but debt collector is reporting new dates on the account. This action is re-aging an account which is illegal.
Disputing an old account can trigger a new debt collector
Disputing an old collection account can trigger the collection agency to renew their collection efforts or sell the debt to a new debt collector.
How debt payment deferment impacts your credit scores
Payment deferment can give you room to breathe If you’re currently having trouble making credit card, personal or auto loan payments. Plus debt deferment can help save your credit scores from late payment marks.
Duplicate negative accounts on credit reports will crash a credit score
Credit scores can take a dive if you have duplicate negative information. It appears that you have more DEBT than you actually have.
Can a collection agency report an account 30 days late?
Collection agencies are not original creditors and should not be reporting monthly late payments on your credit report, you have no legal account with a debt collector that requires monthly reporting of late payments.
