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Collection Agencies and Your Credit Report
Collections and Collection Agencies A collection, also known as a charge-off, is an old debt the original creditor has given up trying to collect. At the point your debt becomes a charge-off, it is sold to a third party collection agency. Collection agencies are hired because they are experts at getting you to pay. How Damaging Will a Collection Be to My Credit Score? Once a debt has been sold, the way it is reported on your credit record changes from bad (late bill) to terrible (collect
Negative Entries on Your Credit Report Can Be Challenged
How to Dispute Your Equifax Credit Report Anxious to remove bad credit from your Equifax credit report? In this process, obtaining a copy of your Equifax credit report is tantamount in order that you may review the credit report for any negative information listed. Following is a list of items which will affect your credit negatively: third party actions legal proceedings, such as judgments Chapter 7/Chapter 13 filings home foreclosures auto or boat repossessions wage garn