NEVER PAY COLLECTIONS! THIS Is How to Settle Debts With Collection Agencies!

Welcome back, Credit Heroes!

For this month's Tip of the Month, I will reveal the secret reason why you should NEVER pay collections!

Sometimes, collection accounts can be really stubborn.

But even in cases where it just won't go away after you've applied other disputing tactics, paying off collections is never a smart way to go.

In fact, it's what could end up hurting your credit score instead!

So what SHOULD you do?

Watch this episode to find out!

Key Takeaways for This Week:

00:00 Why you should NEVER pay collections!
00:53 Can paying off a collection hurt your credit score?
01:38 How debt collection agencies actually make money
02:30 How to deal with collections successfully
03:49 Want more credit repair tips?

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#DanielRosen #CreditRepair #CreditRepairCloud

[IdontKnow-jirh]

Ask them to show the contract between you and them... if there is none.... you tell them to remove themselves off your credit report or you will sue them for Administrating Property Without Right or Consent or Contract... I eradicated over 7k by writing them a simple letter... SHOW ME THE CONTRACTS

[joanbelmont]

Yeah, but you just say “pay for deletion”. So you do have to pay collections for removing the account.

[nubiancutie]

I love your personality! My question is if I don’t respond to the collection agency letters or emails can they ignore my validation/verification letter due to me not responding to them in 30 days?

[malayaanderson]

Yeah I tried to settle for less, they wouldn’t budge, which is fine but I haven’t made contact or answered calls since then.

[jaybudzygaming]

Im in a bit of a unique situation not sure how to proceed. Im in FL, I became disabled 1/2021, I filed for disability through my employer however the decision took about 10 months. While this was pending I was unable to pay my credit card bills and the accounts ended up being charged off and are now with collection agencies. I owed 3 different cards, 1 was about $8k, the 2nd was $4k and the third was about $3k. I never answered the calls or responded to their letters. I thought about filing for bankruptcy but just recently got the news my disability case was approved so they will owe me some retro funds (approx 15k). When I receive these funds should I try to negotiate to pay off these collections now? Dispute them? Think bankruptcy is still an option? I know these debts are legit and I dont want to end up in getting sued, thx.

[deedysjourney]

I have a situation I’m have a car loan I no longer kno where the car is the creditor tried to take me to court now I have to pay the court fees on top of the remaining balance but thru a credit collection law firm how would I fix this

[ethio]

Now I regret after I pay he is right I thought will clear from my record still there

[hannahyisrael]

The way you talk cements it into your brain lol

[krisluvsutube]

I have a bill I don't even know why I have in collections and I have asked three times now for an explanation as to why I owe it and they refuse to tell me but the collections people keep sending notices. I've worked hard to rebuild my credit and if it gets put against me I'm going to be livid. I am already!! Does somebody know what I can do?

[Rhondior]

The debt is already paid with your signature

[jeahlashelifestyle]

Had medical bills, What if the collection just hit my report?

[scotthutton]

What can I do if I already started paying a debt not realizing the debt collector was obtaining the debt illegally?

[mark]

I thought pay for deletion is BS? will the contract even hold up under the new law ?

[cocodiamonddaze]

Well I paid off a collection from 5years ago yesterday and I screen shot my credit score so we’ll see what happens in 30 days yall… I’ll let y’all know

[stevenp]

They cannot renew the 7 year clock. Only 90 seconds into the vid but damn thats too wrong to continue

[zoax]

What if they’re threatening to take u to court?