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gamermomd

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Best course of action for removing black marks on credit?
My credit has been really bad, and I recently checked on here to see if it had gone up and happily it had gone up about 100 points. I had spoken to someone at my bank awhile back for advice and she recommended a secured loan. I recently got a secured card, and my credit has already gone up a few more points.I recently got collections letters from an agency on accounts that are fairly old.I've heard horror stories that collection agencies don't remove the bad marks even after you have paid, so I am hesitant.One of the bills I could probably pay fairly soon. Should I contact the original creditor, and try to see if they will work with me? I don't want to throw money away, and then have the agency not report that I paid the bill...

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No matter who gets the payment, the fact that a bill goes into collection means the original creditor wrote it off and sold it to a collection agency.  Any time that action is taken means you already have a black mark okn your credit that can remain for at least 7 years.  There is no erasing it.  Now, as to paying or not, it depends on the last date you had anything to do with the accounts and the Statute of Limitations for collections in your state.  In my state, the SOL is 6 years so, if the last time I had anything to do with one of the accounts was March 2007, the bill would be out of statute, and uncollectable.  Find out what the SOL is for your state and work from there.  If the debts are still collectable, pay them off.  If not, let them go.

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