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What you need to know before paying an old collection

  • At September 29, 2015
  • By Stephen Matte
  • In advice, collection, credit
  • 0

Did you know that if you pay off an old collection, your credit score could actually go down? Here’s what you need to know before paying off an old collection!

By paying off the old collection you are updating the information. The credit companies now may re-start the clock now that you have acknowledged the debt. If it is close to seven years old, it may make sense to let the statute of limitations run out.

Do you still have questions about your credit score? Contact us and we will answer them!

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