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SentencedTo7to10

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Any advantage to paying off a closed account before it is sold off (and other questions)
1) I recently became able to begin to pay off my debt with a great new job. However, many of my accounts JUST became closed after collections because I was unemployed for a while. Is there any advantage to 'voluntarily' paying closed accounts off before they are sold to a debt collection agency?

2) Would I do better to pay off open student loans (not in collection) first?

3) At this point, is there any significant advantage to paying the closed account(s) in full over the next couple months vs settling (after they have been sold) for less?

Thanks!

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Top Contributor
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If you can pay them off before they go to collections, that is a plus.

Have you tried consolidating or moving to an income-based plan for your student loans (assuming they are not private)?  If not, call Crest at 469-619-0644, they may be able to help you with that.  Otherwise, don't let them go to collections, they can garnish your wages.

If the bad accounts are very old, then try to negotiate a "pay per delete" agreement with the collectors for whatever amount they agree to take.  That way, the accounts are removed from your report entirely once paid.  Get it in writing first.

Best of luck!

Reply by
lisa9313

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Does "pay for delete" really work? I also need to get a few older collections accounts off my report. My concern is that it won't work and if I pay them the time on these accts starts over again.

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