I owed a total ammount of $258.68 Back In January from NCL FInancial Services (Collection Agency) I Never Made A Payment And In A Recent Credit Card Application I Got Denied With The Messege "Obligations Are Currently Or Formerly Past Due" . . . If I Make A Full Payment Tomorow Will It Be Deleted From My Credit History? And Has My Credit Score Been Affected?
2006-08-17 10:53:17 · 6 answers · asked by pamens88 1 in Business & Finance ➔ Credit
I agree that it will show as paid, but it will show as a paid negative which is about as bad as an unpaid negative.
Yes your score has been affected by it and if you pay without requesting total deletion, it will continue to be a negative.
I would suggest sending a debt validation letter to NCL first (send it certified mail return receipt) That way you know for sure that they actually have the debt and that the amount has not been illegally inflated.
After you receive their response, send them a pay for delete letter.
Request in that letter that they will delete anything they have placed on your credit reports after payment.
That they will not continue to collect after payment.
That they will not sell the debt or the remaining portion of the debt if they agree to take a percentage as a payment in full.
You should also request to pay a percentage as payment in full.
You might go to the site I've listed and do some reading in the newbie forum and then in the credit forum. You can find what you need for debt validation letters and pay for delete letters.
All of the info on that site is free to read and use.
2006-08-17 11:15:48 · answer #1 · answered by echo 7 · 0⤊ 1⤋
It will stay on your credit report until the end of the 7 year mark. Your credit score is being affected because you have a derogatory account on your reports. The only way to get the account removed from your credit reports is to get a written agreement from the collection agency saying that they will remove the account upon payment. So companies will do it and some won't. In the end, an unpaid charge off verses a paid charge off, is no better.
2006-08-17 21:28:11 · answer #2 · answered by bella_4624_19 4 · 0⤊ 0⤋
Ouch! Collection agencies are no fun, and having an outstanding account, well it just makes it worse. CONTACT the collection agency, and advise them in writing that you will only pay if they remove the report to all three agencies. You can negotiate with them, because IF you don't the negative comment will stay on your report. And the length of time it will stay on your report is the date of LAST ACTIVITY (to include payments). Recommend you see Suze Orman's web page...outstanding source of credit adivice. Don't run from the creditors...deal with them. All I can tell you...is that you will feel a whole lot better dealing with it.
2006-08-17 22:55:51 · answer #3 · answered by Marilyn C 4 · 0⤊ 0⤋
Agree to pay NCL but only if they take it off your credit report. Bluff them. First try and bargain for a reduced amount. Then, say that you will pay what ever amount you settle on, but only if you get it in writing that they will take it off your credit report. When you have it in writing that they will take it off your report, immediately send in the payment.
Keep a copy of the transaction.
2006-08-17 22:33:19 · answer #4 · answered by Think.for.your.self 7 · 0⤊ 0⤋
Yes it has hurt your credit, you were denied a credit card beacuse of it (potentially). If you pay the bill it will be marked PIF (Paid in Full) on your credit report and will look much better than a bad debt owing.
2006-08-17 18:49:11 · answer #5 · answered by Joe 4 · 0⤊ 1⤋
It will still show on your credit file but will be reported as collections/paid.
2006-08-17 18:00:16 · answer #6 · answered by Q.S.G 3 · 0⤊ 0⤋