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I just saw on my Experian credit report that there was an old bill that I had never paid off. It is listed as both "Potentially Negative, Closed". The account type is: Collection Dept/Agency/Attorney. Balance is: $514. Date Opened: 11/1/2005. Account Status: Closed. Past Due: $514. Payment Status: Seriously past due date/assigned to attorney, collection agency, or credit grantor's internal collection department. Terms: 1 month. Because it is closed, would paying it off even do any good? They never contacted me about it or anything. I just found out about it.
Since it got listed in your credit report, it will definitely affect your credit score. If you find the name and address of the collection agency in your credit report, send a debt validation letter to the CA and try to repay the debt if they validate your debt. This is because a paid listing always better than an unpaid one and gives you at least a little advantage before the creditors than if the listing is unpaid.
I think you should send a debt validation letter only if you can afford to pay back the debt. However, 514$ is not a huge amount and you can negotiate with the CA for much less. But make sure that even if you have to pay $514, you can pay it, before sending a DV letter. This is because, if you do not pay after validation, they may sue you.
thanx, but
Thanks alot, but what exactly is a debt validation letter? Where can I see an example of one? Thanks again
Debt validation letter is a letter which is generally sent to a collection agency or a collector, who is shown listed in your credit report. The debtor sends this letter asking the CA to validate the debt, in other words to see whether the debt has been sold off to the collection agency or not. You can find a sample debt validation letter if you visit the link http://www.creditmagic.org/repair/sampleletter-debtvalidation.html
collection agency
I want to have a phone number to collection
You can google their name and find it their or look on your credit report and sometimes it is listed there. You can recieve up to three free reports a year and I would always recommend doing so for your own protection.
Do you have the actual name of the creditor so that we can help you get the number?
If you leave the name somebody here will try and help you find it, sometimes people have dealt with the same company and can share their experience with you.
Thats what I was shooting for...a name. It is always useful when helping someone and plus as you mentioned GN, feedback from others that dealt with them. One thing is for sure here at this forum someone has had to deal with most collectors..Always someone out there that will recognize the type of snake it is.
Hi hieuluong
Fireyone is right. You can get the details of the collection agency from your credit report itself. If the contact details of the CA is not available there, the name of the CA will be definitely there. To get the correct address, you can google with the name or visit the BBB site and search with the name of the collection agency. You will get the address and the reliability report from there.
The bbb is a good place to start if they do not have the information that you are looking for, bring the name here and we will attempt to help you find it.
Somebody here may have dealt with the company before and be able to advise you on how to handle them. stop back and let us know who it is.
I always like to check with the BBB before dealing with any type of business. It is better than finding out too late that they are not reputable.
Good info
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Good info
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