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Does Paying Off Collections Improve Your Credit Score?

Credit Corp

When you default on a payment, the company you owe may sell your debt to a third-party collection agency. When this happens, it means your debt has gone to collections and debt collectors from the collection agency will now try to contact you for payment. How Does Collections Debt Affect Your Credit Score?

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

The proposed rulemaking could redefine “data brokers” and “data aggregators,” and extend FCRA regulation to businesses that do not currently meet the FCRA’s definition of “consumer reporting agency.” The bill protects patients from certain debt collection practices for medical debt.