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rj0706

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Need Help With Collections
Not sure how to handle Collections Accounts on my CR. I went through a divorce several years ago and it wrecked my credit. Most of the bad stuff has fallen off, but I have some collections accounts, and I dont know how to handle them. Two of the accounts are set to fall off within about 8 months so I plan to just let them run their course. However, I have two accounts that are 2-3 years old. My main goal is to improve my score. They are valid debts that i owe, and if I could have paid them, I would have already. I just need the best course of action to have them removed without harming my score even more. They are relatively small balances(roughly $600 each), so I assume there is no real threat of a lawsuit. Any help is greatly appreciated.

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Read about "pay for delete agreements" and save up some money to cover the accounts. A "pay for delete" is your ultimate goal. Getting a collection marked as paid does little to help your credit. "pay for deletes" must usually be done in full. DO NOT enter payment plans. Read up on the FDCPA (fair debt collection practices act) to make sure that the debt collectors are not breaking the law. In the process of saving up the money to tackle these, use your free time reading all that you can about how to handle this and all credit topics in general.

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