Can Collection Accounts Be Removed?
The most common reason for bad credit is collection accounts being reported, and
having a major negative impact on credit scores.
A single collection account can
lower the score between 30 and 90 points on most...
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Can Collection Accounts Be Removed?
The most common reason for bad credit is collection accounts being reported, and
having a major negative impact on credit scores.
A single collection account can
lower the score between 30 and 90 points on most occasions.
Typically collection
accounts are debt that has been closed and charged off by the original creditor, and
sold and transferred to a company.
In some instances they own the debt and
sometimes they are just collecting on behalf of the original creditor.
The majority of
collection accounts are for old accounts such as cell phone bills, cable or utility bills,
insurance premiums, bank fees, returned checks, charged off credit cards and
department store cards, and other miscellaneous credit accounts that were not paid.
Collection companies and agencies can be a complete nightmare to deal with.
They
will call and harass you at all times of the day, at home, on your cell phone and even
sometimes at your place of employment.
Some of
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