Does paying off a collection agency show up in your credit report?

2018-11-23 12:50 pm
I've seen and heard that once a debt is turned over to collections it won't matter since they don't report it to credit agencies. And paying off the collection agency will have no positive effects. Also that it's a waste of money because it will never show up in your history. Paying them off will only stop the bills and the calls. Is this true? Will my credit score improve with payment?

回答 (6)

2018-11-23 3:43 pm
✔ 最佳答案
when your bill goes to collection agency it means that collection agency BOUGHT your unpaid bill for babkus and no, they will not repay the company u owe to. so no, your paying the collection agency will not show on any record - there is no record. they bought your bill for much less than it was and now are just trying to make a living
2018-11-23 12:58 pm
Once a debt has gone into collection, paying it off doesn't help. That may sound like odd logic, and that's because it absolutely is, but your FICO score is weird like that. You'd be better off avoiding any contact with the agency and waiting out for it to fall off from your credit report, while at the same time repairing your credit by paying on your existing loans or getting a secured credit card,
2018-11-25 3:15 pm
Never pay any collection agency because their strategy is usurping the law like a 'Sword of Damocles' that'll hang over your head. Scare tactics that'll usually involve an agency (tricky--it might be somebody within their office) that serve as a messenger/delivery (unheard of) company (that's outside of the norm, being, UPS/FedEx and other reputable companies--again, tricky scare tactics). They did that too me and I forced their hand when I told them to go ahead with a court summons and not their allegedly legal documents delivered by their so-called 'deliverer', --whom I told them, "I won't acknowledge and I'll appear in court with my court-appointed attorney, at which time, I'll tell the court that I suffer from 'Non compos mentis' (LATIN: not of sound mind) as my reason for my recent nonpayment of a contract agreement signed years ago, prior to my present state of mind." I told them that I'll be ready to certify my claim in court and to go ahead and file their papers with the court. Before I hung up, they did ask for 'ANY' (reasonable) amount--offered--denied--BYE! (without saying GOOD). Months passed and...
2018-11-23 1:25 pm
It is not a waste. It stops them from suing you. It stops them from garnishing your wages (in those states that allow it) and freezing your bank accounts (in all states). No matter what happens with your credit report, not paying will cost you more than paying would cost.
2018-11-23 1:10 pm
Yes, it helps - it pays off the debt. The collection agency turns over the money to the creditor and the creditor just has to pay the collection agency their fee. So, of course, it helps - it wipes out the debt. When the debt has been paid, you can also request that credit agencies reflect that the particular debt be shown as paid. Of course you have to prove that you paid it but your cancelled check (front and back) will do that. With verification from the creditor that the debt has been paid, you can begin restoring your credit, which you cannot do with an outstanding debt. Don't listen to people who think a debt somehow falls off. That never happens. Occasionally, a creditor may decide to not pursue a debt but, that rarely happens and some institutions ALWAYS pursue a debt.
參考: Certified Paralegal, with 25+ years' experience.
2018-11-28 5:23 am
They report and it ruins your credit. Paying off won't help your score though, it will help you to be able to open new accounts which if you pay right will help your score.
參考: Mortgage lender 32 years.. I see credit every day.
2018-11-24 11:59 pm
Your CREDIT REPORT information has nothing to do with each states SOL for collecting debt. A few states allow 15 years. You can be taken to court and a Judgment obtained.
2018-11-23 11:51 pm
Yes.


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