Truth about Paying Collection Accounts and Credit Score

Even after you pay off a collection account in full it won't help your FICO credit scores recover. Read this secret before you pay off any other collection accounts.
Comments on article "Truth about Paying Collection Accounts and Credit Score"
Name Views and CommentsDate
yasmin thak you so much you have saved me from making the biggest mistake of my life 2/5/2009
s either way i should pay off what is owed to the collections agent?

what if they are completely rude and ignore the fact that i cannot receive personal calls at work?		 7/17/2008
sarah so what does one do when it does go to collections? pay or not? 7/17/2008
aisling this article can give the impression that once a debt goes to a collection agency, your credit report is screwed anyway so you just shouldn't even bother paying it, since it's not going to come off your record. Unless I am wrong, it's important to reinforce that if you don't pay those debts, they'll just stay on your credit report. With a balance of zero, they are at least not outstanding and will be cleared off in seven years. 10/30/2007
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