why should you pay old debt that has already went to collection it's on my report as a negative,and lowered my

Answer 1

If the age of your debt is close to 7 years pay them in full or don't pay them at all. 7 Year statue of limitations for reporting. If you only make a partial payment on a collection account it renews the statute of limitations. If your debt is less than 5 years old and you now have the ability to pay them off -pay them off and add a consumer statement to each of those debts and explain in a 100 words or less what may have happened to cause the account to be turned over for collection recovery. With a consumer statement it allows a creditor to remove most of the mystery of the collection account and in turn will expedite any credit you may apply for without the back and forth calls of why, when , and what?

Answer 2

if you call them they may asept about 50% of the balance If it old and that would clear up some of the debt that you owe and it will show banks that you are more responceable than the people who dont care bottom line your creidit is directly linked to you financal futcher shure you can buy a car ,house with bad creidit no creidit. But unless you win the lotto or your rich uncle died and loved you more then everyone else you need credit and the best you possobly can get because when I sell you a home you will be paying me big time and you will be stuck there along time because the banks will scew you even more ps fix every flaw and pay off all debt live by your means if you are in america and in the x gen unless you get control of you finance you will never retire
go talk to a financial adviser it is there job to help people so you wont work the rest of your life pay cheek to pay cheek I NOW PEOPLE WHO MAKE 100,000 A YEAR AND IF THEY LOST THERE JOB THEY ARE A MONTH AWAY FROM LOSSING EVERYTHING People need to stop spending every penney they have on crap they though away when they still owe money on it . my mom had bought this coch payed 3500 for it is was made cheep and she financed it for 5 years got rid of it in three years see the problem. not if you are a furniture sales man if you dont have the cash to pay for what makes you think giviing the bank 25% intress yearly for 30 years make it more afforedable thank about it is a huge scam
and they are taking all of our money srew it dont pay them basterts

Answer 3

Paying the debt now will save yourself from a diminishing credit score. Old debt is still debt.

Answer 4

Looks like you have a problem in completing things, like paying your debt, and finishing your sentences?
If you want a better credit score, pay the debt.

Answer 5

Here are some great reasons
1) to be honest
2) to be responsible
3) to be valuable to the economy (people who dont pay their bills cost the average household a minimum of 350.00 extra per year - adds up when you consider the number of households in the US.
4) to better your credit
5) to show your future creditors that you are an honest upstanding person and well worth extending credit to
6) to save intrest on loans and credit cards. bad credit can cost individuals THOUSANDS of dollars.

Answer 6

When someone looks at your credit report, paid collections look much better than unpaid collections. Furthurmore, companies can garnish your wages for money you owe them. Its best to just pay them off when you are able to.

Answer 7

If you pay your debt it will give you a much better starting block for rebuilding your credit score. Plus if it stays unpaid it will only keep dragging your score down.

Answer 8

check this debt settlement company

http://www.debtfreeafterall.com

They will negotiate with your creditors on your behalf and try to reduce your principal debt amount around 30% to 70% with LOW monthly payments and NO interest rates.

Take decision wisely
Good Luck

Answer 9

Because it will go into judgment and you don't want that, you must keep your buying power alive unless you are ridiculously rich, the credit is needed to obtain buying power, with you it you are up sh i t creek with out any toilet paper!

Answer 10

i would just try to pay what you can even if you think its in collections. otherwise, you will owe here and there and always use that as an excuse.