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Will Paying Down Collections and Delinquent Debts Improve The Credit Rating?

Will Paying Down Collections and Delinquent Debts Improve The Credit Rating?

One of the more common concerns we get from customers is whether or otherwise not paying down or settling old debts could have a good effect on their credit file cards and credit ratings. Generally, the concern involves charged-off bank card accounts, leftover balances on auto loans after having a repossession, unpaid collection records, income tax liens and defaulted figuratively speaking.

Each one of these debts is cleared once they’ve reached delinquency status, which happens as soon as a number that is certain of have now been missed. Continue reading Will Paying Down Collections and Delinquent Debts Improve The Credit Rating?