NEVER PAY COLLECTIONS! (Remove Collections From Credit Report)

Should you pay a debt collector in order to repair your credit report or is there a better way to go about collections? In this episode Matthew Pillmore, president of VIP Financial Education, reveals the truth about collections - how to call a collection agency, what to say in order to get a collection account removed off your credit report. These tips will help keep your credit score optimized while also clearing out those debt collectors.

Should I pay collections? Should I never pay collections? Don't pay collections until you watch this video. You'll learn how to remove collections from your credit report!

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[rdemartelaere]

Nice video. But I would suggest never pay for an account in collections. 9/10 you can send out a section 609 letter, or a debt verification letter. If the collector cannot validate that debt then they must remove the account. Also I personally wouldn't call them. I personally like to have a paper trail of the collection company's correspondents, also if that collection is outside the statue of limitations based on what state you live in. Hope this helps everyone.

[Tarot_withAsh]

Please do more of these videos. I am in the process of repairing my credit and have been recommending sharing your videos with a lot of my friends who are also doing the same. In the African American community we aren’t taught how about credit and how to be financially responsible in fact we are some of the biggest consumers when we should be saving. So this video has been helpful to be and my friends and we would love to see more videos on repairing credit, removing negative items, and raising your score.

[PodtrashRadio]

You caught me by surprise with the considering bankruptcy. I laughed pretty hard because I just did this to settle a car loan. I said I was considering bankruptcy and they immediately said “hold on” and settled for $8000 instead of $18, 000

[IamharmlesS]

If you exhausted all other options (debt verification letter, disputes, etc) and decided paying the debt for removal is your best option, if or when the collection agency agrees to the pay for removal, MAKE SURE they send a letter in writing either through mail or email before you send your payment. This letter can assure the account will be removed even if the collection agency "forgets", you can dispute the account through the CRA and provide the letter as proof. It would be removed within 30 days thereafter. I know from personal experience.

[tiffanypitts]

Yes can you please do more videos like this. I am 35yrs old and I have just started. Clearing up my credif report; any useful information will be greatly appreciated.

[SamakaSRC]

OMG thank you for the sample call!!! I've been searching and searching for how exactly to do this with them! You're the only one that has literally put the verbage example out there! Thank you!

[tbonebeats]

Dude, I did what you said to a Medical collection. I called the collection agency, told them I didn't know about the bill and I thought my insurance paid it. I agreed to pay if they would remove it from my report. I told them im looking to buy a house in a few months and this bad mark would hurt my chances. They put me on hold, came back and told me that it would be removed like it never happened! I was super nice and conversational with the agent. They seemed thrown off at first but then they dropped their guard and became very friendly. Thank u my friend!

[sariahhayford]

Thank you for this video! I was considering giving in and paying collections for a medical bill... I did not know this could make my score worse!

[nismonomad]

Just subscribed. At 37 I'm finally just now getting around to understanding and getting on top of my finances. Thank you for the great information and I look forward to seeing all the other videos and information you provide.

[ciarraflannagan]

Literally was able to get two derogatory remarks removed from my credit today! They were not outrageous balances so I went ahead and paid them in full. They should be gone by July. I am so happy! great advice!

[amandanichols]

I'm just coming across this and am now a new subscriber. I lost my job in 2018 and stopped paying on all my credit cards to make sure I had money for necessities. Now I am trying to clean up my credit. This was extremely helpful, thank you!

[raquelcalvillo]

THANK YOU for actually giving helpful information without just setting up clickbait to sell us something. Geez I've been watching videos 3 hours straight and you're the first person to help! Subscribing now!

[douglashstewart]

Interesting advice about removing collection accounts from credit reports. I just discovered that I have two medical bills in collections, that my insurance didn't pay. I'm glad that I found the Channel.

[sinkorstone]

As a former collection agent, I can tell you this information is very true.

[michaelsmyth]

It's cool watching this, hearing you say how you're excited for 100k subscribers, then looking down and seeing that you have over 200k subscribers. Hell yea man! Thank you for the insight.

[armonelovesaustin]

On credit karma it’s tells you how long it will be in your account

[KassemthstTARD]

I do hope I never have to be part of a situation like this but just like you said Matt, anything can happen to anyone so it’s good to have the information regardless!

[robsudden]

When they use to call me I'd tell them I never did any business with them so stop calling me n harassing me! to cease n desist ! N if they call or sent me a letter again then I will sue them!
N that was it they never harassed me again!
I monitor my credit daily and no collections reported whatsoever.

So far so good!

[Howtogetancreditscore]

A pay for delete agreement helps to boost your credit score. Great video.

[RoadFan]

Thanks for this video. I will be in this position (sigh) soon. I helped a 'friend' with a car. He was in a collision and has not made a payment since last year. All attempts to contact him have been unanswered.


I piece of advice to anyone reading this: never help a friend with a car. NEVER!