Credit Tips: Credit Card Collections

Posted On: December 1, 2005

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?

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.

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.