So I Got That Call From Collections

12,526
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Joined Feb 8, 2009
I just got a voicemail from CACSI. How is this going to affect my credit score I know my balance cant be more than $500 and it hasnt been a year someone toldme dont worry about it its not that serious but what should I expect or do.
 
12,526
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Joined Feb 8, 2009
I mean can I pay it off monthly I need to know what to say or do before I call them back
 
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Joined Jun 24, 2008
if your getting calls from collections ... R.I.P. to your credit score
 
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Joined Dec 16, 2003
Originally Posted by Crumbs

if your getting calls from collections ... R.I.P. to your credit score
your done for real, they give you plenty of notices before dropping you to collections

if you go to collections, it's gonna be a long repair to your credit
 

hollakid619

Banned
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Joined Feb 24, 2003
Dont sweat it. If this is the first time they contacted you, most likely the "charge off" isnt on your credit report yet. Call them back and speak tothem. Collection agencies buy your dept off your creditor for pennies on the dollar, then see if they can make a profit off you. 99.9% of the times they'llsettle for half or < half of what you owe. Also they'll set up a payment plan to make it easier for you to pay them. In they're eyes "Somemoney is better than no money". Also, most are willing to remove the "charge off" off your credit report once you pay them. Just call and workwith them.
@ everyone saying RIP but not giving advice
 
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Joined Jan 20, 2008
Originally Posted by HOLLAKID619

Dont sweat it. If this is the first time they contacted you, most likely the "charge off" isnt on your credit report yet. Call them back and speak to them. Collection agencies buy your dept off your creditor for pennies on the dollar, then see if they can make a profit off you. 99.9% of the times they'll settle for half or < half of what you owe. Also they'll set up a payment plan to make it easier for you to pay them. In they're eyes "Some money is better than no money". Also, most are willing to remove the "charge off" off your credit report once you pay them. Just call and work with them.
@ everyone saying RIP but not giving advice
Co sign. Been there done that. Feed them some bs, tell them you are unemployed and ask if you can either get it lowered or set up a payment plan.They will either be understanding or total a holes.
 

lurkin2long

Banned
8,635
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Joined Nov 29, 2007
Originally Posted by areyouin729

Originally Posted by Crumbs

if your getting calls from collections ... R.I.P. to your credit score
your done for real, they give you plenty of notices before dropping you to collections

if you go to collections, it's gonna be a long repair to your credit

Dont listen to this guy he gets off on other peoples misfortune because his life is miserable an he is not smashing.

I had collections on me just because i had to replace my credit card after i lost it an forgot to inform my gym, so my number changed. Next time i got chargedfor next months bill, I got collections from the gym who processes their payments. I paid it off an I was fine.

wasnt any RIP to my credit score an HOLLAKID is right.
 
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So if collections calls you because you missed one month on your credit card payment is it RIP to your credit score?
 
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Joined Aug 25, 2005
Originally Posted by DAYTONA 5000

So if collections calls you because you missed one month on your credit card payment is it RIP to your credit score?
Lot of misinformation going on in this thread.
To answer your question, if you miss 1 month on a CC payment it is NOT going to collections. 30 days past due, the CC company will try to get you to squareup. It will show up as being a 30 day late on your credit report, but that is not nearly as bad as a collection or charge off. If you are 30 days past due,call your CC and work it out. If you have a good pay history with them, a lot of the times they will work it out with you. Just keep in mind, if you miss 1payment they jack up your rate. Make up an excuse, say you were out of the country and your sister forgot to mail your payment for you. Be nice and polite,and ask them to bring your APR back down to what it was before you got the past due payment and ask them to remove the 30 day past due from your record. Iveslipped up in the past and had to do this more than once and I still have 800+ credit with no past dues showing up on my record.

As far OP is concerned, HOLLAKID619 put it best. By the time it hits the collection agency, that means they either bought the debt outright (for pennies onthe dollar) or they have some sort of agreement with the creditor where they get a portion of what they potentially collect from you. If you got the money,pay it. An unpaid collection, even for under $500 can do some damage to your credit score. Give them a story, be polite, tell them you want to pay it. Justbe sure to have them agree IN WRITING that they will remove the charge off/collection COMPLETELY (as opposed to marking it as a paid collection). Most of thetime, they just wanna get paid, they dont care what effect (good or bad) it will have on your credit. Be sure to get that in writing that they will REMOVE it,instead of just marking it paid.
 

springfieldxd

Banned
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Joined Oct 29, 2008
don't worry about it bro, obama will take care of it.

you'll have a zero balance by next year.
 

im not you

Banned
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Joined May 29, 2009
Don't listen to anybody saying "you're done" or anything like that. Pay it off or set up payment plans...ask for a letter that you'vesatisfied your debt. Then contact the three credit bureau's and let them know you've paid what you owed and you'll be straight.
 
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Joined Sep 23, 2008
Originally Posted by Mojodmonky1

Originally Posted by DAYTONA 5000

So if collections calls you because you missed one month on your credit card payment is it RIP to your credit score?
Lot of misinformation going on in this thread.
To answer your question, if you miss 1 month on a CC payment it is NOT going to collections. 30 days past due, the CC company will try to get you to square up. It will show up as being a 30 day late on your credit report, but that is not nearly as bad as a collection or charge off. If you are 30 days past due, call your CC and work it out. If you have a good pay history with them, a lot of the times they will work it out with you. Just keep in mind, if you miss 1 payment they jack up your rate. Make up an excuse, say you were out of the country and your sister forgot to mail your payment for you. Be nice and polite, and ask them to bring your APR back down to what it was before you got the past due payment and ask them to remove the 30 day past due from your record. Ive slipped up in the past and had to do this more than once and I still have 800+ credit with no past dues showing up on my record.
damn...thanks for the info man..
 
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Joined Sep 16, 2003
Originally Posted by Mojodmonky1

Originally Posted by DAYTONA 5000

So if collections calls you because you missed one month on your credit card payment is it RIP to your credit score?
Lot of misinformation going on in this thread.
To answer your question, if you miss 1 month on a CC payment it is NOT going to collections. 30 days past due, the CC company will try to get you to square up. It will show up as being a 30 day late on your credit report, but that is not nearly as bad as a collection or charge off. If you are 30 days past due, call your CC and work it out. If you have a good pay history with them, a lot of the times they will work it out with you. Just keep in mind, if you miss 1 payment they jack up your rate. Make up an excuse, say you were out of the country and your sister forgot to mail your payment for you. Be nice and polite, and ask them to bring your APR back down to what it was before you got the past due payment and ask them to remove the 30 day past due from your record. Ive slipped up in the past and had to do this more than once and I still have 800+ credit with no past dues showing up on my record.

As far OP is concerned, HOLLAKID619 put it best. By the time it hits the collection agency, that means they either bought the debt outright (for pennies on the dollar) or they have some sort of agreement with the creditor where they get a portion of what they potentially collect from you. If you got the money, pay it. An unpaid collection, even for under $500 can do some damage to your credit score. Give them a story, be polite, tell them you want to pay it. Just be sure to have them agree IN WRITING that they will remove the charge off/collection COMPLETELY (as opposed to marking it as a paid collection). Most of the time, they just wanna get paid, they dont care what effect (good or bad) it will have on your credit. Be sure to get that in writing that they will REMOVE it, instead of just marking it paid.

Very important. Also, someone correct me if im wrong but legally you only have to pay collections what they bought your debt for correct? Legally they have toshow you what the paid, right?
 
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Joined Nov 14, 2008
i work for a credit card company...and we have a collections dept...after a certain amount of time they sell the debt to a collection agency. If the payment islate after thr bill cycles we report it as a delinquancy to the credit bureau...but thats just us...u can try workng something out with the collection agencylike payment plans and things along the lines of that...
 
9,387
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Joined Dec 2, 2007
Originally Posted by chisoxdavid

Originally Posted by HOLLAKID619

Dont sweat it. If this is the first time they contacted you, most likely the "charge off" isnt on your credit report yet. Call them back and speak to them. Collection agencies buy your dept off your creditor for pennies on the dollar, then see if they can make a profit off you. 99.9% of the times they'll settle for half or < half of what you owe. Also they'll set up a payment plan to make it easier for you to pay them. In they're eyes "Some money is better than no money". Also, most are willing to remove the "charge off" off your credit report once you pay them. Just call and work with them.
@ everyone saying RIP but not giving advice
Co sign. Been there done that. Feed them some bs, tell them you are unemployed and ask if you can either get it lowered or set up a payment plan. They will either be understanding or total a holes.
 
3,572
10
Joined Nov 14, 2008
I actually got a call a week ago. Dumby said that I didn't pay for my doctors appointment. Later they found out that they did not even mail me thestatement.
but pay up OP
 
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