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Mrshomemaker

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Do I need to pay off closed accounts?
On the credit report it shows that i have closed accounts but i am currently being garnished for one of them? Is there a way to stop being garnished to pay off active debt accounts? I have read that it is a closed account because someone bought the debt from the company I originally owed the money to. Are there chances the other debts will have this happen to or is there a certain amount of years that they can only do this for?

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YES!!! If they are yours.

Helpful to 1 out of 2 people

1. Check all three credit reports to make sure only your accounts are showing.  That topic is covered in the articles you can find on the left side of this page. 

Closed accounts only mean that you can no longer make charges to that account.  Your debts still have to be paid. Garnishment meant that you were taken to court to get repayment arrangements made but didn't show, so they got a court order to get the payment.  No changing that!!

After a while of non-payment, a creditor can get wages garnished or they can sell the debt to a collection agency who can get quite aggressive.  

My strong suggestion is pay your debts.  Read the articles on the left side of this page, and learn what one must do to have a good credit score and properly handle debt instead of apparently looking for a way to avoid doing so. This site is for your education in achieving good credit.  Use it. 

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