Reaging means settling the account due date back to current from it being reported as delinquent. Reaging of a debt is illegal if done without the consent of the debtor. This is against the Fair Credit Reporting Act. You can dispute this if you think that the date of last activity on your account has been changed without your consent. You can use the proof of your last payment to dispute this.
However, can you tell me whether you currently paid on this collection account? If it is so, then the date of last activity will definitely be changed, and this can lower your score. Paying off old collection accounts does lower your score, as such account becomes active after payment, and the late payment is considered to be made in the present.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.