Statute of Limitations on Credit Card and other Debt
Your debt may be uncollectible. Review your State’s Statute of Limitations on how long you can be sued for an unpaid debt.
Debt Collectors
How to Dispute Collection Accounts on Reports
Strategies to dispute collection accounts include finding errors on your credit report and requesting a deletion.
Settle debt with collection agencies for pennies on the dollar
Once a debt is sold to a collection agency you have a chance to settle the debt for a lesser amount, often pennies on the dollar.
Dispute multiple collection agencies reporting the same debt
It’s not unusual for unpaid debt to change hands but only one debt collector can report on your credit history for the same debt.
Can collection agencies keep updating credit reports?
A collection agency can continue to update the account on your credit reports up to the date the reporting time has expired.
Pay for Delete Agreement: Delete Collection Accounts from Credit Reports
A pay for delete is a way to negotiate with a collection agency to remove an account from your credit reports in exchange for payment.
How to successfully and calmly deal with Debt Collectors
Keep your cool with these 17 Tips to Deal with Debt Collectors: Stay calm, stay off the phone, know your rights and request proof of debt.
Does paying off collections improve credit score
Once a collection account lands on your credit reports it can stay for up to 7 years from the date of the original account’s default regardless payment. Paying a collection account does improve credit scores but only under FICO 9 scoring system.
Steps to take if a credit account has been Re-Aged
Re-aging credit accounts causes older negative accounts to look more recent which can ruin your credit score and is a serious violation.
