A collection account reported to your credit bureau and is negatively impacting your credit score. You may have worked out a payment plan with the company or negotiated to pay off the account for less than the balance owed. These companies have little incentive to fairly and accurately report to your credit bureaus. This is a violation of the Truth in Lending Act, however, violations are rarely prosecuted.
When our client’s sign up to have their credit scores maximized with our credit repair services, one of the first actions our credit repair executives take is to aggressively seek a permanent deletion of the account as it pertains to the Fair Credit Reporting Act. The way the bureaus score collection accounts makes this the best option to pursue because even updating the information on this tradeline could potentially lower your score, even if you are paying as agreed. The most effective way to increase one’s credit score that is being negatively impacted by a collection agency is to remove that tradeline from your records altogether.
Do You Have Collection Accounts On Your Bureau?
Don’t live with collection accounts bringing your credit scores down. Your credit score is your first, best option to secure capital and assets. It is too important to be left in the hands of people working at collections agencies. Contact us and we will work to delete these negative accounts and increase your credit score.