Credit Card Collections

Author: twinkeeb
Posted: Thu Jun 10, 2004 3:20 am
Post subject: Credit Card Collections

11/11/2002 9:37 pm CDT

My CC has been in collection for about 2 yrs, I want to paid it off this year, but I can't pay the whole thing. My balance is $1600, can I pay this CC off by doing payment plan? Ex. sending $500 per mth. Will collection company accept this payment?

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Author: Dori
Posted: Thu Jun 10, 2004 3:23 am
Post subject: Credit Card Collections

11/12/2002 7:44 am CDT

Many times the collection agencies will settle for a much smaller pay off than the original balance if you talk to them.

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Author: Dori
Posted: Thu Jun 10, 2004 9:22 am
Post subject: Credit Card Collections

11/12/2002 7:43 am CDT

I believe that they will be very happy with any payment that you make. It shows that you are responsible for your debts. It will be very good to see "COLLECTION--PAID" on your credit report too in 2 years. Future Creditors will be much more likely to extend credit to you in he future if this is paid off.