Paying Collection Agencies

Paying collection agencies is not always the right thing to do if your primary concern is increasing your borrowing potential. For several reasons, paying collection agencies is something can have a very negative effect on your borrowing ability due to the negative effect on your credit score that it causes. Making regular payments to a collector will also usually greatly lengthen the statute of limitations, or amount of time the collector has to sue you in court. If you are considering, or already have begun paying collection agencies, I would suggest considering the benefit that you will receive from paying a collection agency, versus the other benefit you could receive by extending an alternate offer to the collection agency. Many […]

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