Collection Agency - How to Avoide Collection Agency
MY first encounter with collection agency came in year 2006. In September 2005 I had gone through surgery and after surgery I was receiving numerous bill from physicians, hospitals, labs etc. Some how a ill of 400 dollar was left out and it had ran its 30, 60, 90 day cycle. When I applied for insurance change I was informed by insurance broker that I have pending bill remark in my credit history. After researching the incident and paying bill back to collection agency I was down by 15-20 points in my credit history. Due to that incident I couldn’t change my insurance as new insurance will charge me slightly higher premium.
I try to reason out with hospital and collection agency but there was no help from either. Finally I have paid pending amount to collection agency and got a receipt from them and later same I presented to all three credit score companies for update. Within three month the remark was removed by all three companies and my credit score was back to original score. But to get this straight it took considerable amount of time and not to mention the tension I received in these three months.
Now the question is “what is collection agency” and what is their job. Well, collection agency came into the business because small or big business felt need to recover money from clients where they couldn’t get payments in time. The job of collection agency is to collect money from bad accounts for small business. By off-shoring collection job to collection agency companies save time and money. Also they don’t have to employ people for money collection. This is a legitimate business although no body likes people calling them for money. Next time you get call from collection agency take it seriously. Verify the bill, cross check with your records, if bills pending, pay immediately to avoid reporting in credit bureau, which will spoil your credit history. In case you think bill is not correct furnish your records to collection agency so that it stops them from reporting to credit bureau.
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Are you missing that good interest by just a few point on your credit bureau? If you need fast credit report repair you can probably raise your credit score 10 points immediately if you follow these three tips.
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Have you ever imaged the answers to the following questions: how to respond to a collection letter when the debt is not yours, will a debt follow me if I moved to another state, what happens if I signed for a certified mail receipt coming from a collection agency, and what happens if I send a post dated check to the collector.
Can i draw from a full credit report from my sandbank? Hello and thank you to any who can assist me here. I was just this minute rejected for a loan i needed because of my credit report. Where can i get a full copy of my credit report so i can see exactly what i owe?
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