How do I go about paying off debts to collection agencies?

I have numerous old credit card debts that have been sold to collection agencies. (About $4,000). These are from when I graduated from college and became unemployed over six years. I kept paying some of them, but on others, the statute of limitations has run (it%26#039;s four years in California).

I am able to pay off this debt fairly quickly now and would like to begin repairing my credit. Once these are paid I want to make sure that this information appears on my credit report.

I want to pay off all those where the statute of limitations hasn%26#039;t run, but don%26#039;t know where to begin. I got a credit report online, but the information is pretty vague, you can%26#039;t tell when the last time I paid was on any of them.

I%26#039;d like to find someone who works on this type of thing, but don%26#039;t know who to turn to. It seems as though Credit Counseling agencies only work with people whose debt still lies with the credit card companies.

How do I go about paying off debts to collection agencies?

First of all, never pay a collection agency unless you have no other option . THey are all crooks.

You need to read up on your state laws and the FCRA and FDCPA.

Pull all three credit reports and compare them. Find any violations and document them for a lawsuit later. Free money.

Some dummy keeps saying that contacting CAs, or whoever will reset the seven year limit that a baddie stays on your report.

That is not true. Making a payment on a debt can reset the SOL, but, unless you bring the account current, the seven years starts from the date of delinquency where the account was never brought current afterwards +180 days.

You can also negotiate a PFD (Pay for delete) with the Collection Agencies. Make sure you get it in writing.

Educate yourself before you do anything!

How do I go about paying off debts to collection agencies?

Dispute anything that negatively affects your credit (like late payments and the like). If they, the original lenders (i.e.credit card companies), don%26#039;t respond, the credit reporting agencies would have to remove it.

Note: Creditors only report information once a month. If the account has been inactive, it would show up as an %26quot;X%26quot; for that month.

If you want to pay off creditors whose debts haven%26#039;t run off the statute of limitations, then try calling them up. Their contact information should appear on your credit report. If their information is very vague, then chances are they won%26#039;t respond to the credit reporting agencies%26#039; inquiries so it%26#039;s to your benefit to dispute these items.

Remember, the key here is to dispute, dispute, dispute!!!!!

How do I go about paying off debts to collection agencies?

Those will stay on your credit for 7 years and automatically some off your report. If you contact them that could renew the time status and be on there for another 7.

If you are trying to purchase something that requires this debt to be paid, then you better have the cash in hand to be able to bargain or settle for an amount that you can both agree on.

Remember to follow up in a letter, and include in your negotiations the immediate removal of that debt on your credit report.

Good Luck

How do I go about paying off debts to collection agencies?

Don%26#039;t go the credit counselling route; don%26#039;t pay in full either. Professional arbitrators can likely get you out for 50 cents on the dollar or less. Keep some of that money in your pocket. Additionally, I know a lady who does credit repair for just $125. Somethings are best left to the pros. Check out the free evaluation form at the source website below. Good luck.

How do I go about paying off debts to collection agencies?

call them and pay them off.. or make a payment plan with them.. Good luck

How do I go about paying off debts to collection agencies?

First call your creditors and see if you can work out some sort of settlement with them...which you must get IN WRITING from them before you send any money. When you pay, do it by money order or cashiers check only and send via certified mail.

After you do that, you can begin using a method that many financial advisors recommend, something often referred to as the %26quot;debt snowball.%26quot;

The basic steps in the debt snowball method are as follows:

1. List all debts in ascending order from smallest balance to largest. This is the method%26#039;s most distinctive feature, in that the order is determined by amount owed, not the rate of interest charged. However, if two debts are very close in amount owed, then the debt with the higher interest rate would be moved above in the list.

2. Commit to pay the minimum payment on every debt.

3. Determine how much extra can be applied towards the smallest debt.

4. Pay the minimum payment plus the extra amount towards that smallest debt until it is paid off.

5. Then, add the old minimum payment from the first debt to the extra amount, and apply the new sum to the second smallest debt.

6. Repeat until all debts are paid in full.