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Collections Law/Past collections account

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Expert: Ontrack Financial Group llc - 6/6/2008


Question
QUESTION: Hi my name is Lena.

I had a few collections account in the past and was wondering what i could do to removed that? Do I still have to pay off the accounts if they sold it to a third-party? I understand that even if i pay off the account it would still be on my credit report for 7 more years. What can i do to improve my credit score even though those accounts are still on my credit report?

ANSWER: How old are the accounts?

---------- FOLLOW-UP ----------

QUESTION: They are about 4 to 5 years old. So do i still have to pay them if they sold it to someone else?

Answer
Yes you will still have to pay them.  Once paid they will re-age meaning they will be a part of your credit bureau for 7 more years.  Your credit score will continue to be tarnished until the collection account are satisfied.  If you need assistance working out an arrangement with the collection agency contact us.

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Ontrack Financial Group llc

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With the credit market on a brink of collapse, the future of having good credit will be paramount. Loans will be near impossible to obtain with strict lending practices around the corner. Debt collectors and Law offices will use even stronger tactics to recover more of your hard earned money. Protecting you and your credit has to be a top priority. In 2000 Ontrack Financial Group llc founded the credit arbitration movement. More and more companies entered into the arena and new business models joined old ones. Only one company has the attitude and aptitude to truly assist our clients. Ontrack Financial Group llc is that company! With our proven credit arbitration solution, you can become Charged Off Debt free within three years or less. Our clients have eliminated their Charged Off Debts with our service and avoided communication with collection agencies and law offices in the process. Since the inception of Ontrack Financial Group™, we have continued assisting our nation-wide clientele with their burdensome unsecured debt and has enrolled thousands clients in its programs, managing millions of debt for its clients without one complaint. Ontrack Financial Group™ is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry. As a result, our services are unbiased and independent, which allows us to better serve the consumer.

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