08/17/2018
Credit Tip💡
Stop paying collection accounts🚫
Collection agencies usually purchase your debt after 120 days of being delinquent with the original creditor.
An example of original creditors would be Sprint, Capitol One, American Express etc..
Once the collection agency acquires the debt that will attempt to collect payment from you by calling repeatedly and sending out letters. If you aren’t careful you will pay them your hard earned money.
However with the Fair Credit Reporting Act ,by law you have the right to request the collection agencies to provide proof of your aggreement to pay them and to validate the debt. The catch is you never signed an agreement or contract with the collection agency.🤦🏽♂️🤦🏽♀️
Most people freak out once they come back saying the debt was “verified”✅ but professionals know that’s when the real fun starts.
If you take your credit seriously than let trained, knowledgeable professionals work on your behalf.
Don’t allow Bankruptcy Attorney’s to convince you to pay them to add another more damaging negative mark on your credit report (Bankruptcy). It’s much more beneficial for you to get the repossession , evictions, medical bills, collection, charge offs, and foreclosures deleted off your credit report.
