Remove category fair-credit-reporting-act
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Can a Collection Agency Report to the Credit Bureau Without Notifying You?

Credit Corp

If you or someone you know has dealt with a collection agency, you know how trying it can be. Debt collection agencies have a long history of harassment and illegal practices. Can a collection agency report to a credit bureau without notifying you? Attempts to Collect a Debt Not Owed.

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Does Paying Off Collections Improve Your Credit Score?

Credit Corp

Your credit score may improve if your collection debt is reported to a new credit scoring model—FICO 9®, FICO 10®, VantageScore 3.0® Most creditors still report to old scoring models, so it’s unlikely paying off the debt will improve your credit score. In This Piece: What Is Collections Debt?

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Top 3 Complaints Against Debt Collection Agencies

National Service Bureau

Last week we wrote about 2014 CFPB complaints against debt collection agencies. Now for the top three: #3: Disclosure verification of debt. There were 5,452 improper disclosures reported in 2014. Of these, 1,346 related to credit card collections and 1,057 had to do with healthcare collections.