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Posted in Paying Your Bills
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Question By
dwillis1921

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What is the best way to handle debt in collection?
Does paying debt already in collection help?

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Pay in full

Unless you want it to haunt your credit for the next 7-10 years, pay it in full. Otherwise it could end up costing you $$$$$ in higher interest rates on cars and mortgages.

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Collections need to be paid, but not necessarily the amount shown.  Please take the time to go through the articles here to learn about the Statute ofLimitations on Collections (it varies by state) and how to negotiate a 'pay for delete' agreement, both of which can save you a good deal of money and possibly get the negatives off your credit report faster.  The articles here are specifically for your credit education and  will help you for the rest of your life.

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