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Collections

When you are experiencing debt problems, you may find that you have been handed over to debt collectors who are tasked with recovering the amount that you owe. This can be very negative for your credit report because, in addition to appearing as a default, it will also indicate that the specific account they are following up on has been listed with a debt collector. This will affect your credit score negatively and will often remain on your credit report for up to seven years. This means that every time you look for credit when one refers to your credit report, they will see this is a negative. That is why you need the help of a professional credit counselor to help you with a collection account

Remove debt collections - What Repair Needs to be Done?

Collections will affect your credit report for sure, though the question may be what extent will your credit scores drop? You can expect a drop of anywhere between 50 to 100 points though this will be based on how good your credit was, to begin with. If you have excellent credit, then the hit you will receive will be much worse.

How Can the Collections Be Removed from the Credit Report?

You need to remove collections from your credit report so that you are able to access credit with ease. Once they have been removed, then your credit score will shoot up. The first step that you should take goes through your credit report to ensure that there are no mistakes within it. You need to also confirm that the amounts to be collected have the correct date, as well as the correct amount that is due. You can be sure that in the event there are mistakes, the creditor will not correct them. With a credit repair company, you are able to add a consumer statement as well as the right supporting documentation to ensure that corrections are made to your report. Furthermore, they are able to spark an investigation in the event that there is the wrong information that has been referred to. Normally, the results of this investigation mean that the collections can be deleted from your credit report.

It is also possible to negotiation so that the collector removes the bad account from your credit report after you make some payment. With a signed letter to seal the agreement, you will be confident that you can move forward with a credit bureau in case it has not been removed from your credit report.

Discount Credit Repair is also able to keep track of the entire process and ensure that at every step you are in compliance with the relevant bodies. We also ensure that you can get a free consultation with no obligation so that you know what your options are when it comes to dealing with your credit situation. Creditors will often have you going round in circles as you look for a way to ensure that your collection accounts are sorted. With a credit repair expert, this can all be averted.

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