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Personal loan best way to pay off collections?
My fiance and I have used Credit Karma and the credit cards they recommended to raise both our scores in the last year. (Thanks CK!)

We found an amazing house in foreclosure. She works for a bank so we contacted them about a mortgage.

My score is better then hers, I am in the low 700's, but they wont approve me because of a collections entry from a rental lease I broke 5 years ago when I was unemployed, broke, and couldn't stay in the apartment. I never heard about the broken lease until a couple months ago when the rental company wrote off the amount due and sold it to a collection agency.

SO...if I can get the collections entry taken care of the bank will approve me. What is the best way to do this? I have already requested debt verification, and they responded with aggressive collection tactics.

Should I call the collections agency, ask to negotiate a settlement amount, and then seek a personal loan to pay them?

Thanks in advance.


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