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Collection Accounts Series #7, Collection Agencies

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Read the entire Series about this subject to understand everything before you DO anything about a collection account because you can seriously harm your FICO credit scores if you don’t study and apply what I know. More is to come!!

Some collection agency collection accounts are very easy to get deleted after payment or settlement, most are very difficult or impossible BUT…

We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies. 

Collection Accounts Series #6, Collection Agencies

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Do NOT pay, Dispute or try to get a collection account deleted from your credit report when:

1. It is still unpaid AND…

2. It is the oldest open account on your credit reports

If you do not take my advice then your FICO credit scores almost certainly will drop when the collection account is paid or deleted.

This is 100% true for mortgage-type FICO scores, the kind I know very, very well.

We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

Collection Accounts Series #5, Collection Agencies

collection account credit repair california

 

When it comes to the Collection Agency type of collection account we have mentioned earlier in this series that paying the collection account never raises mortgage-type FICO credit scores and can drop them as millions of Americans have found out the hard way.

The cold, hard fact is that only the permanent deletion of these accounts from ALL of the Credit Reports will help your FICO credit scores.

Remember, there are some cases when paying or deletion can actually seriously DIP FICO credit scores.

One person thought she heard me say to pay her collection account when I would never say that in her case. Her mortgage FICO scores dropped 20 points and now she cannot get a home mortgage loan. I will solve that.

We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

Collection Accounts Series #4, Collection Agencies

collection account credit repair california

 

Recently a mortgage loan officer who has referred clients to me for eight years commented he thought that medical collections no longer affect mortgage FICO scores.

While it is true that federal lawmakers were considering this idea as a law it did not become law. Medical collection accounts still very badly hurt mortgage-type FICO credit scores.

We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

Collection Accounts Series #3, Collection Agencies

collection account credit repair help california

 

When a collection account comes onto your credit reports please know that the dollar amount owed does not affect the damage to your FICO credit scores. Paying the collection account will NOT raise mortgage-type FICO scores and can drop them up to 60 points.

We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

Collection Accounts Series #2, Collection Agencies

Collection Accounts Series #2

 

A new collection agency account hitting your credit report will cost an otherwise perfect credit report 65 to 125 FICO points. This is true of mortgage-type FICO scores, the type of credit score we know by far the most about.

Take-away: Paying the collection account does NOT raise mortgage-type FICO credit scores. Paying could possibly drop your FICO credit scores up to 60 points. More will be explained later in this Series.

We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

Collection Accounts Series #1

Different types of Collection Accounts

 

Collection Agencies are companies which collect for other companies or people who are owed a debt. Other types of collection accounts are:

  • Student loans in “default”, the person who owed the money stopped paying
  • Charged-off accounts, this type of collection account will have it’s own Series of social media posts. Charged-off accounts are usually credit cards a person stopped paying but could also be loans paid with the same payment amount monthly.
  • “Debt buyer” collection accounts. These companies buy “bad debt” also known as defaulted debt from other companies and try to collect.
  • Vehicle repossession collection accounts, these are also “charged-off accounts like the sentences above.
  • Taxes unpaid to a government agency whether it is a local government, county, state or federal debt that is owed.

At 740Plus, We have about 97% success getting collection agencies accounts deleted permanently from ALL Credit Reporting Agencies.

$47,042 settled for $3,200 + Deletions

I love working on debt buyers’ collection accounts. I’m your mercenary destroyer of debt buyers.

I sneak behind enemy lines, gather intelligence and then get great discounts and sometimes 100% wipe-out the debt AND I get the all-important 3-Reporting Agency credit report deletions.

As millions of Americans have found out the hard way, paying a collection account either does not raise credit scores a single point or can drop them up to 60 points when the collection account is significantly older than the next oldest open account.

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Escallate LLC, a Collection Agency

The deletion is everything to your credit scores so below is how to potentially get it. See the bottom for what I know about this collector. MOST IMPORTANT: Never, ever pay a collection agency without getting a written promise to delete the account from your credit first.

Why?You don’t pay a Collection Agency without a written promise to delete first because after you pay your FICO credit scores will NOT go up a single FICO point as millions of Americans have found out the hard way.

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