I came into hard times and lost my job a few years ago. Things have gotten better and I am in a better financial state so now I am trying to work on clearing up my credit. I recently pulled my credit report and I saw the Providian Mastercard still on there but it said the balance is $ 0, and the words "account closed by grantor". Then a few rows down I see a collections agency that bought my debt and the balance is now showing $8,500. 3 years ago, when I owed Providian, the balance was for $5,300 so I guess they are trying to tack on late fees, collection fees and whatnot. I heard that I should just wait and let it fall off my credit because if I try to pay it now, it will still look bad on my credit report because they will show the reporting date from the day I talked with them and try to keep it on there longer. Should I talk to the collections agency and try to negoicate with them and pay it off or should I just ignore the calls and let it fall off of my credit report in 3 years?
2006-08-10
10:09:39
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10 answers
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asked by
chocolatebabycakes
4
in
Credit