If you are past due on your payments and debt collectors are calling, your credit score is going down. Having a “collection” notation on several delinquent accounts will make it tough for you to obtain a loan and/or a reasonable interest rate.
If you have previous collections and you want to improve your credit score, it may be time to negotiate with your creditors. In some cases, a collector will agree to report your account as “paid” or “paid in full” in exchange for a full or partial payment. However, you should never pay a delinquent account without an agreement that your credit report will be updated to reflect a more positive denotation.
In some cases, we can negotiate with a debt collector to have your account completely deleted from your credit report in exchange for payment. We also help ensure your liability for the debt. It isn’t uncommon for a debt collector to attempt collection on a date that you are no longer liable to pay, such as an expired debt. We always check the statute of limitations on your debts to confirm the debt is collectible.
Can you rely on an agreement reached with a debt collector on the telephone? Even if you reach a verbal agreement to delete the collection notation on your credit report in exchange for payment, request that the collector confirm the agreement in writing prior to making any payments.
If you need assistance with debt collectors or errors on your credit report, call DeLadurantey Law Office today.
Contact The “Milwaukee Bankruptcy Attorneys,” DeLadurantey Law Office. LLC. DeLadurantey Law Office focuses on Chapter 7 and 13 bankruptcy, debtor’s rights, debt negotiations, debt relief, mortgage loan modifications, and foreclosure defense. A “defender of the little guy, “DeLadurantey Law Office serves the following location – Milwaukee, South Milwaukee, West Milwaukee, Waukesha City, Waukesha Town, Kenosha, Racine, and all other municipalities in Milwaukee County, Waukesha County, Kenosha County, and Racine County. We can be contacted by phone: (414) 377-0518 and can be found on the Internet and on Facebook.