Posted on: 21st Sep, 2012 12:26 am
There are around five small collection accounts in my name. Should I pay these and get on with building good credit for the next 2 years? Will it be better if I try to get a few of them validated and go from there? Can good progress be made on my reports that will result in a good rate and approval for a mortgage going the pay them off route and just establishing good or would it be best to try to verify and validate before I mess with the CAs??
Hi Sandra,
It is always better to pay off the collections accounts. This will have a positive impact on your credit report. However, it is always better to get the debt validated before you start paying it.
Thanks
It is always better to pay off the collections accounts. This will have a positive impact on your credit report. However, it is always better to get the debt validated before you start paying it.
Thanks
Welcome Sandra,
Once you validate the debt, you will know whether or not your CA really owns the debt. Once you know that, you can set up a payment plan and start paying off the debt.
Once you validate the debt, you will know whether or not your CA really owns the debt. Once you know that, you can set up a payment plan and start paying off the debt.