Results – 12 Collections Deleted
Tuesday, March 16th, 2010
Derrick Evens
Mr Credit San Diego
858.571.0271
AskMrCredit@yahoo.com
Archive for the ‘Collections’ Category
The City is hitting you where it hurts in case you didn’t know…
Thursday, March 4th, 2010
It’s very important for you to understand that anyone you owe money to can send you to collections. Being sent to collections is one of the worst things that can happen to your credit score. I personally had a collection that cost me 137 points in 2004. The last thing anyone wants is to get a collection for not paying a water bill or parking ticket, but that’s exactly what’s happening. If you owe the City any money, make sure you pay them just like any other Creditor. Not only can they send you to collections, but they can keep you from getting services like Water and Trash!
The Bottom Line: Pay the City or they can really take it to you!
Hope it helps.
Derrick Evens
Mr Credit San Diego
858.571.0271
AskMrCredit@yahoo.com
How much does a collection hurt my Credit Score?
Wednesday, February 3rd, 2010
First of all, everyone’s credit will be affected differently by a collection. There are many factors that play in to a credit score in San Diego and changing or adding just one variable will not have a standard affect on the score. However, this is an interesting Cast Study because you can see clearly some of the big points that I make about how to handle collections when they arrive on your credit report.
#1. Don’t pay them off once they reach your credit report unless you have to. This could actually cause your scores to go down, especially if the collection is old.
#2. The balance doesn’t matter. Anyone who tells you that your score will improve by paying off a collection is not telling the truth. The damage is done once the collection shows up on the credit report. The only way to help from there is to get it removed.
#3. These can really hurt your credit. 75 points in our example today, but I had a collection show up on my report that cost me over 130 points in 2003.
San Diego collections are BRUTAL on a credit score. The best thing you can do is pay your debts before they get to collection agencies. If you can’t for some reason, then make sure you don’t make any of these common mistakes. Contact me if you need advice. Everyone’s situation will be different. Hope it helps!
Derrick Evens
Mr Credit San Diego
858.571.0271
AskMrCredit@yahoo.com