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Question about debt collectors



  • Official comment

    Hi George,

    Collections are tricky!  Christopher is right in that you should get in contact with the originators of these items.  Here's a great resource from our NerdWallet content that explains the collections process a little more thoroughly:

    Feel free to post your progress or any roadblocks you might run into along the way.  This kind of information is useful for everyone in today's economy!

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    I have a hard time understanding how 3 New debts can show up, but be ready to fall off in the next year? I get the funny feeling these are associated with the delinquency you already paid.

    For the duration that the money is in collections, YES, they can continue to report missing payments every month. They can also increase the balance due monthly if you are accruing interest on the owed amount.

    It is important that you find the original source of the debts, and contact the original creditor (whether the debt is yours or not) the original creditor can pull you out of collections like it never happened.  if this does turn out to be yours, it is important that you attempt to settle the debt with the original creditor, not the collection agency. But know that any partial payment made will be seen as acceptance of the debt, and can start the process all over again if they put you in "good standing" then they can send you back to collections and destroy your credit for another 7 years.

    Best of luck getting this resolved!

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    Douglas Beukes

    I am under Dept review and can't find same one to help me

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