A common question that I get regarding Monthly payments is:
Should you make monthly payments to a collection agency?
My suggestion is that you do not do that. The reason is that every time you make a monthly payment you’re waking that sleeping dog and it’s showing up like a brand new derogatory account
My recommendation is to save that money and be disciplined. Once you have say 40% to 60% of whatever that collection balance is offer it to them in a lump sum settlement.
Do not forget to request a letter of deletion!
To recap: Do not make monthly payments to your collection agency. Save the money and offer them a lump sum.
In case you haven’t yet, here’s how you get started.
Step 1:
Tap or click here to get your $1 credit report.
We’ll need it to do your credit analysis.
Note:
This is for a $1 seven day trial.
You can cancel it in the first 7 days if you want, but we need this as a first step, in order to help you.
Step 2:
You will get a login and password for IdentityIQ, when you set up your $1 trial.
Go to this page on TheCreditMovement.com.
Share your username/password for IdentityIQ in the form on the page.
We are here to help you buy a home. We will introduce you to a lender once you will qualify for the loan you want.
