Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Paying Your Bills
Profile Image

Question By
evealv

0 Contributions
0 People Helped
What do I ask for when paying off collections
I plan on paying off some accounts that are in collections. What do I ask from the collector to make sure that I'm not being scammed and to make sure it appears on my report as paid off?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7371 Contributions
3810 People Helped

If these collection accounts you are asking about have shown up on your account  here, the first thing to do is make sure they ARE your accounts.  Go to annualcreditreport.com and get copies of all three credit reports.  Look them over very carefully and file disputes on all WRONG information (not my account, never lived there, wrong phone number, etc) with the credit bureau reporting it. They have to investigate and either verify or delete the disputed item.  Make it a habit to do this credit check once a year to make sure only your information is on your account.  Errors are common on credit reports.

If these are accounts you have been receiving collection notices on, you'll want to make sure they are still collectible before beginning payments.  Do an online search for Statute of Limitations on collections and find out what the statute is in your state.  If the bills are close to reaching  that expiration date, you can try negotiating a lower payoff.  Do this by letter and keep a copy for your records as well as a copy of their reply. NEVER try negotiating over the phone.

Utilize the Financial Tool on this site to help make smart decisions.  These tools are really good.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.