NEVER EVER PAY COLLECTIONS!

[@KeepingItRealWithCredit]

Get a free credit consultation now! Click the link to schedule your appointment: calendly.com/disputenationeval/complimentary-consultation or call/text us to 305-985-7682.

[@XxxXxx-fo1zi]

l have IVA for the last 2 years , could you give an advice how to start

[@johnathangreay987]

Sup homie!?

[@APerez89]

Hey man. I forgot to say thank you😢. You saved my ass from paying an outrageous PayPal debt bs attempt in 2018. I responded with a letter and next thing I knew the shit was gone from my PayPal account and the collection company NEVER contacted me again. ❤1LOVE HERMANO

[@Horkslair]

Rule number one. NEVER ANSWER THE PHONE IF YOU DO NOT RECOGNIZE THE NUMBER!

[@newtonraymond77]

Not answering the phone doesn't get rid of the problem. Some time ago I saw a $40 collections on my credit and I never received a call from the agency. It was for a bill that I had no idea of from a doctor At least 4 years old

[@asiac8968]

unless you're looking for a job. :(

[@rer1967]

Horkslair, actually you should answer the phone. It is how you adress the caller that will determine the outcome. Receiving a call from a number that you don't recognize should result in you not confirming your identity, that includes your address or confirming the last four digits of your ssn if they rattle it off. The caller only suspects that they have the correct # and person they are trying to reach. They will always state "this is an attempt to collect a debt". Responses to these calls, whether they are legit or not, should be limited to something like, "I'm sorry, but I do not confirm personal information over the phone, if you feel that you have the correct person you will need to mail a bill to the address that you have on file, please do not call this number again. Thank you". That will deter most from anything further. For the ones that claim that you will be served, sued or arrested, that is considered a threat, send them a cease and desist letter via certified mail and file a complaint with your state attorney general's office.

[@geot4647]

Rule number two: "Never get out of the boat."

[@Oceabrz]

Horkslair. That is PRECISELY what I do. I DON'T answer the phone. I also block the number. If they use another number, I block that too. Once, someone thought they were being clever and texted me, asking if I was so and so. Like I would fall for that!! Hahahahaha!

[@Djslobinator]

Bro people like you is what makes me think that there are some people in this world who care about the struggling man and woman. Highly appreciated brother 👍🏻

[@Djslobinator]

Unknown Person LOL!!!! Did I upset you with my comment? Do you need a hug buddy?

[@TheFutureLooksGrimm]

Jeffrey Fuentes He had a bad day, girlfriend dumped him for his narcissistic personality. His hair pin triggered Conniption fit launched ian assumption complete with waving arms like those air blower filled roadside attention grabbing characters. No one one takes a loan intending on not paying it at all, as that is called fraud and people have gotten jail time for it. Plus banks are allowed by law to loan out 8-17 times of what they get in, thereby creating money out of thin air. So guy named “Unknown Person” it is going to be ok

[@sheba12106]

Unknown person, debt is not always due to money that was borrowed. A friend of mine had an ambulance bill that came after his Medicare time frame for paying was up. He then tried to find out how much his health care from that year would cover and found out that the healthcare company he had then folded and people were filing grievances because they hadn't paid their medical bills. Medicare would have covered it 100%, but the company didn't bill anyone until it was too late to get it covered. $650.00 and he is on social security.

[@ORWELL_USA]

@@unknownperson2422 Listen man, Jeffrey Fuentes was not talking about stiffing anyone, he appreciated the information so he wouldn't get ripped off by Collection Agencies...how could you not understand that, you moron?

[@kyrayates6026]

@@unknownperson2422 I bet your a collection agency worker who's asshurt over this video.....get a life👏🏼

[@MiaStar]

All these people talking about "stop living beyond your means, stop using credit cards" have obviously never had medical bills... Yeah, I'll just drop dead and stop going to the doctors, thanks. Not everything is about living large. Tons of people are just trying to stay alive. As if going to the doctor is a luxury.... You think anyone WANTS medical bills???

[@301980sexynerd]

Loved your comment

[@good4damoney]

Hi sassy, medical Bill's can also be paid by an anonymous donations person,but you'll need to ask the hospital to put you in that list..its free for you and a tax write off for the donater.

[@hiteshwadhwa123]

The hospital bills FRAUDULENT amounts, and that is the problem...

[@good4damoney]

@@hiteshwadhwa123 I'm with you. My Bill's were sky high too.

[@donte543]

Move to Canada then US is rough if you in big city, American dream is to keep you in debt, which is why I want to move a small state

[@Ashdaesq]

It was the fact that the collection agency buys the debt for pennies and then they still charge you the full debt amount AND it’ll still stay on your credit. That’s criminal

[@jwat3217]

Maaaan smh

[@dawnmurphy4320]

I used to be a loan underwriter for several banks. He is right, the fact that an account went to collection is a negative to a loan underwriter, regardless of if you paid it at a later date. I’m not advocating people to not pay debt, just stating if you pay it thinking you are cleaning up your credit and will be rewarded with loans at a later date, this MAY or MAY NOT be accurate. If you struggle financially, I would recommend putting you and your family first, not a wealthy financial institution.

[@titikahill9007]

Thanks for this.

[@BrizzyMo]

@@chrisg2281 You are the racist here, idiot!

[@dawnmurphy4320]

Titika Hill my pleasure ... I care about people

[@saxman432004]

How bout be responsible and pay what you owe?

[@dawnmurphy4320]

Mark Creasy Yes, I sincerely agree with responsibility, and not just for the applicant but also the lenders. I have worked for several different financial institutions, and each lender had different underwriting guidelines. I did not work for any predatory lenders, but am aware that they do exist. They overextend credit, knowing some of these high risk loans will go delinquent or be charged off. We saw proof of this with the crash of the real estate market. The banks then went to the government with “we are too big to fail.” Rather than take the losses for their high risk loans, they made the tax payer bail them out. The taxpayer is now paying the loss. To be fair, some people will have life altering events that will make it hard for them to repay debt; i. e loss of a job, serious illness, etc. Not all people who have bad credit are irresponsible. Some have just fallen on hard times.

[@MaryAnnFarley]

This may be the most helpful ten minutes I've ever spent on KZbin. Wow. THANK YOU.

[@BigZ1624825]

Mee too 🙏

[@MrDICKHEAD28]

HOW TO BE A DEADBEAT AND GET AWAY WITH IT

[@spencerislegit]

You realiE you're still not going to be getting any sort of loan for the next 7 years though right? 😂

[@WhyYoutubeWhy]

@@spencerislegit 7 years go by fast

[@spencerislegit]

@@WhyKZbinWhy so you'd rather get away with not paying your maybe couple grand in credit card debt to waste 7 years of your life? Wow I can't imagine how miserable it is to be you

[@OwolabbyAzeez]

This was some valuable information. Ya whoever is scrolling through the comments I hope you have a phenomenal day. Get ya bread and all the crumbs too. Stack and act broke Ladies and Gents 😤🙌🏾

[@townbizznes1578]

Yupyup

[@OG_DSM]

It's nice to stack up your money until you get a judgement on your credit report and then they can go for garnishment. Good luck with that thought.

[@spencerislegit]

That's because these people literally are broke😂 they're stacking them welfare checks😂

[@OG_DSM]

@James Maynard 👌😄😄😄😄😄

[@edghlover7535]

THE BEST PART IS HOW YOU PEOPLE TAKE MONEY AND GOODS FROM BANKS AND SAY "" THEY'RE NOT GONNA TAKE "MY MONEY" "" LOLOLOLOLOL

[@fredrickmendez]

I have gone from being a 540 score owner to the 800 gang member with the help of Andy Hacks LLC, they've been a tremendous help for myself and my family and we now left our old lives of bad credit, *you can look them up on google to read about them*

[@kathleenmaldonado5726]

How long did it take for you to get to a 800 from a 540?

[@DywanAndYabraeCarney]

@@kathleenmaldonado5726 Mine was 3 weeks

[@briannkosi8956]

THIS IDIOT CREDIT BACK DOOR IS. REALLY SCAMMING PEOPLE OUT HERE OMG

[@briannkosi8956]

THIS IDIOT CREDIT BACK DOOR IS. REALLY SCAMMING PEOPLE OUT HERE OMG

[@briannkosi8956]

THIS IDIOT CREDIT BACK DOOR IS. REALLY SCAMMING PEOPLE OUT HERE OMG

[@tracyhunter8119]

I had a credit card debt that went to collections a few years ago. When collection agency called I didn't answer so next thing I knew they filed in court to sue me for the debt and I was served court papers. I requested the collector show me the contract with my signature on it as part of the required discovery in any court case, which of course they couldn't provide. I had no contract with the collection company I had a contract with the original company but not the collection company. They couldn't show any mutually agreed upon contract and therefore I had no obligation to pay them, nor did they have any right to demand payment from me. Case dismissed. Sad thing is that not only did they have no contract with me, the statute of limitations had also run out, but had I not known these two facts the judge would have allowed them to go right on ahead and sue me and win a judgement. That judge would have sat there and granted that company a judgement against me after the statute of limitations ran out if I had been ignorant to the law. The courts say it's not their obligation to inform all of us regular citizens of the laws. Very sad. Just remember we elect judges!

[@kennethjordan9136]

I love and needed this.

[@bonamivoluntaryist8145]

All judges are Freemasons and Shriners. They've helped their cult brothers through the centuries to the point of monopolizing most industries. Finance companies are going to be owned by members of freemasonic secret societies, so they are still just doing each other favors while enslaving everyone else. This slavery has been going on in this land since the first light skinned people came with the Virginia Company. Police and sheriffs departments are filled with Freemasons, so more laws, more criminals, more guilty verdicts=job security and bonuses for all with new flashy cop cars. The lawyers and judges are all BAR members which originates in London, Esquires of the crown, protecting the masons/knights/cops in the modern day battlefield of the courtrooms. Traitors to our republics, with the help of their communist allies from Germany and abroad, invaded our soveriegn republics, replacing inalienable rights for the mob rule of democracy by zombies.

[@bonamivoluntaryist8145]

Before I'm attacked about the Shriners, why is it that all these billion dollar hospitals and charity centers people are donating to are keeping quiet about natural substances that destroy cancer and MRSA like nigella sativa (black Caraway) seed oil? All your "medicine" are toxins derived from crude oil or Stephan Co, who is the only one the DEA allows to import coca leaves. A nice state-protected drug Monopoly. The doctors killed my grandpa by giving him MRSA during an unnecessary procedure while this healing plant was kept secret from all of us by these demons. It will be made illegal next.

[@checkmateking2854]

What was the reason you got into credit card debt? Did you have a catastrophic event to deal with?

[@checkmateking2854]

Panther God Yep....Best thing to do is contact the creditor directly and set up a payment plan because this will follow you around like a shadow...The more you avoid them the worse your FICO score gets...

[@dawnmurphy4320]

Some people will even go to the extreme of suicide when they are in financial ruin, as was the case with one customer of the bank I underwrote for. Please know that bad credit is not the end of the world. To have bad credit simply means you may not get additional loans, and simply have to live within your means... (which once learned is very freeing). Please know that there is a light at the end of that tunnel. Simply take one day at a time and you will land on your feet. Don’t listen to any judgmental people either. Know that you are not alone; there are a lot of people struggling out there.

[@denisekim3251]

Dawn Murphy Hello guys I got $10,000 in my credit card from @hacker_rodney1 on instagram he loads all USA and Canada banks

[@pt595]

It's very nice of you to offer your support and insight to others. You will never know that these words saved someone's life.

[@dawnmurphy4320]

Dirk Diggler. people’s lives are worth much more than money. Lenders get a tax right off for the loss, so let’s put it all in proper prospective. I had a neighbor that was $60k in credit card debt. She did not get there alone. The lenders helped her aquire that amount of debt.

[@dawnmurphy4320]

Dirk Diggler and thank you for your kind words I am all too happy to help

[@phillipcsandoval9094]

Dawn Murphy ,Thank you!

[@redayvn]

Everything you said makes a whole lot of sense. You've given me some "a-ha" moments. I'm not afraid to say that I've been "GOT" a couple of times, harassed, and all. You've just saved me a lot of migraines. I have lupus, and don't need the stress. Thank you so much!!! 😊💜

[@23MBeezy]

Redayvn Hughley my sister has Lupus so I feel you 1000%! Stay strong queen, less stress. The best!

[@cluwtf]

My FICO score is 821 now after using their credit repair service at Andy Hacks LLC, I didn’t believe in them at first after seeing a video of competitors giving bad reviews but I had to use them because I need to get mortgages, thanks ANDYHACKSCREDITFIX🟤ORG, your work is the best !

[@yolandas.6193]

*To keep your bank accounts from being garnished, if you are highly in debt, create an LLC. Very simple to do. That's a 'limited liability corporation.' Mississippi is the cheapest state to do it in. It only costs about $50.00 there to file incorporation paperwork. Texas costs around $392.00 but Texas of course has more benefits that I won't explain right now. Then open a bank account in that LLC's name. Then take the money out of your personal bank account and put it In the business bank account. That way the bank account cannot be seized for your personal debt. It literally shields the debt from creditors garnishments because the business is an entirely separate entity than you. When Mitt Romney said that 'businesses are persons' technically he was right and this is why. The law looks at them as totally separate than the person. Especially LLC's. This is how powerful LLC's are.**Also, they may come after your wages but if you are friends with your employer or you work for a family business have them terminate you and bring you back on the next day. This way the garnishment is no longer valid. It's only good for 'one duration of employment' and not when you are let go and hired back (which creates another duration of employment). It becomes invalid then and the company must go through the court again to seek another. And it takes months to file a garnishment. If you work for family or friends you can simply be terminated and rehired in perpetuity to stop the garnishments. And don't EVER pay a bill with your personal bank account. There is a reason they give discounts for your account information. they keep this info forever and pass it on to collection agencies. Get a cheap prepaid card and pay all of your bills that way.*

[@J.G.3]

Yolanda Summers How do you create an LLC? I looked it up and you have to have a business and go through alot.

[@yolandas.6193]

It's really simple to create an LLC. Google your secretary of state's home page and it should have information on how to file. Every state has a different price that they charge to do the paperwork. Some states allow you to file online. Other states may want you to print out an application and mail it in. The application is really simple. They want the name of your business, who owns the business and the name of a registered agent. The registered agent could be anyone in the state. Even your mom, your best friend, anyone. The registered agent is simply a person within the state that can accept a subpoena for you if the business is ever sued. All businesses have to have one on file in every state. Once you get the LLC they will send you a Certificate called 'Articles of Incorporation' that shows you are incorporated within the state to start the business. In Mississippi, it takes about 20 minutes to file an LLC and the cost is only $50.00. You get emailed your certificate. Then you go to the IRS site and get an EIN number. That's all you need. The articles of incorporation paperwork with the state and the EIN number from the IRS. The entire process can take less than one day. Most states and the IRS issue all the paperwork and tax numbers you need immediately online. There is little waiting. In 'most states'.

[@svanablak]

Yolanda Summers , you said NEVER pay a bill from your account. Which account? the LLC account or personal account?

[@kelvinalston1128]

Yolanda Summers wow! keep dropping this good game its important I heard somewhere that you got to learn to play the game to succeed and then learn to play it just as good or better then any one else u need to have your own channel cuz this is good game

[@yolandas.6193]

You cannot pay personal bills directly from your business account using the an electronic transfer but if you wanted to shield personal funds in a business account (to keep them protected from creditors looking to garnish your personal bank account) and pull them out when you needed them in cash to pay your bills no one would ever know. The business account takes on an entirely new identity under the law. Separate from you. It becomes almost like a person. It's difficult to explain. But I was referring to people who are paying bills using their personal account. The companies love having checking and routing numbers for a reason. This is because a creditor can send through your account what is known as a 'Universal Draft' which allows them to deduct whatever funds you have in there to cover what you owe. My bank representative (from Bank of America) told me this. So let's say you have been paying your car note using your checking account and routing number and you fall behind. You have to pay rent. Well.. the car finance company can legally send a draft through your account, without your permission, to try and collect whatever funds you have in there to cover your past due delinquency. Some don't do this. Others will do this. Legally they CAN do this. So never give your checking or routing number. Ever. They keep this information even when telling you they do not.

[@PLBRossi]

What a great service you are doing for the people harassed and living with the stress these crooked agencies are bringing into their lives.

[@daddski1]

WRONG.. there are unknown events in life that make issues. People lose jobs, lose a father a wife or a husband. Debt collectors will collect you're money then sell the account to another etc. I have one from 1997 that my dead wife did. She died and they came after me. I paid it. a year later another company contacts me for the same damn thing.. It is now 2017 STILL these thieves contact me trying to constantly collecting the same 325 dollars and they always attack my credit. If you look at mine you see 7 different collection agencies claiming the same money and every one of the bastards refuse to be honest and remove it. You have no idea what you are talking about you just assume you are better than others... Shame on you

[@GrouchoTM]

David Moody wow you should if you haven't already is maybe contact a lawyer. it's my understanding that you are not libal for purchases your wife made. Just because you were married does not mean you are responsible for it! You can even contact the Federal Trade Commission. I just received a summons myself and plan to fight back

[@bam6213]

he's from Florida, talks with conviction, and gives me the knowledge I seek in a simplistic easy to understand type manner. just the type of channel I been looking for. Thank you.

[@Leorgo]

yea he doesnt beg us to like, subscribe, share the video to get more information delivered in our inbox.. Plus the comments seem to back up what hes saying.. good dude.

[@DeeKay617]

Wow my guy , truly a solid man and ii have nothing but respect for that ! Giving away the secrets to credit that for some reason they do not teach us in school but will teach us things that we never use as adults in everyday life ! And what you just let us kno is information that most of the population needs to know !

[@VinDcator]

You are 100% correct. I managed a large C & C agency for years and wondered why people pay at all. It does NOT help the score. It keeps the account alive for 7 more years. It takes money that you will need. Start saving! Pay cash or use debit. Never settle a debt. Keep the money in your pocket where it belongs Tip: Only people who need to get a car or home are virtually forced to payoff a collection account; otherwise NEVER DO IT!!!

[@edmasters9443]

Why dont you people who incur the debt NOT want to repay it? Why are you listening to anyone who tells you not to repay a debt? Why ask for credit if you are not going to repay?.

[@zoee4life]

Vin D question i have two online loan that i didn't pay back and they said if i dont pay them back they will send me to collection what do you think i should do

[@VinDcator]

IF you have the money, try to negotiate a payback arrangement.

[@crimewave414]

Double Down I paid all my bills on time but 7 years ago I had a major health issue. Medical bills fucked my credit up. I don't want to pay that stuff.

[@VinDcator]

NEVER make an arrangement to pay anything, either verbally or in writing, and the debt will fall off after 7 years from the time it was placed into collection (6 months). This would be at total of 7-1/2 years. But you have to make sure that, during that time, you DO NOT GET LEGALLY SERVED. That would likely turn into a court judgment and follow you as long as a bankruptcy. Check the statute of limitations (SOL) in your state regarding time allowed to sue for alleged unpaid debts.

[@herberthutchinson5377]

Good Information! I see some people wanted to criticize because some of this information is well known and basic, but there are people who don't know even the basics so this video is very useful for many people including myself!:) Good Job!

[@davidpaper111999]

Keeping It Real With Credit so if I paid money to a student loan debt collector I already admitted to the debt and in no way is reversible?

[@NamuBang]

David Rodriguez yes

[@NamuBang]

Herbert Hutchinson so true. People are just rabid these days for no good reason

[@donnafrazier9588]

So what happens if say you make a payment then stop paying on the agreed term from the collection agency?

[@amberhatcher2558]

Movie Jimmy 777 ...hi there...I work for a collection agency. I can tell you with 100% certainty that the majority what is said in this video is incorrect. If someone accrues a debt from a signed contract, it cannot be sent to a collection agency unless said contract shows that it will be sent to one if it goes unpaid. Also, telling an agency your name doesn't equal admitting to owing a debt...signing said contract and not paying it equals owing a debt. If a bill is unpaid and fees are added, those fees are from the original creditor, not the collection agencies because...the agencies don't own the debts, they service them for debt buyers(unless they have in house collection departments). It clearly states in the contracts people sign that this will happen. As for credit reporting...it is not the goal of the agency to damage a person's credit, it is to collect the debt, therefore it would make ZERO sense to continue reporting on someone's credit if it is paid. Any agency can remove a charge off someone's credit, but it is up to the agency. Why they wouldn't...that I can't tell you...but, it would behoove them to do so. As for settlements, that is up to the debt buyer. It's not actually based off the age of the charge, but is based off the number of agencies who have had it in the past (and every debt buyer chooses the settlement amounts or if they eant to settle at all as there are no laws that say bills sent to collections have to have settlements on them). So, if it's the first agency, it could be 10% off, if it's the 4th or 5th, it may be 50-60% off...never really know until it's in collections whether there will be anything given off or how much is allowed until the file is loaded. Thanks for your time! Have a good one.

[@makepeace2850]

Ur the best. I bet all the thumbs down you have on this video must be collection employee's or debt collectors. Ur a life saver.

[@zimvader25]

Or from people who know he's wrong. No one can reset your original default date which is when the 7 years start and all new scoring models count paid collections as positives. Ignore medical bill collections since no one really counts those and also ignore collections where your original default date is more than 5yrs old as they dont hurt either. Source: i worked at transunion. Both collection companies AND credit repair companies are scams that consumers need to avoid.

[@johnathangreay987]

A collection agency just called me this morning. I looked up my credit report and saw nothing. I asked who they were and what dept I had with them? They wouldn't tell me what or who I owned. They named an old address I had that got bulldozed to the ground years ago. Lol. I didn't admit to the dept. Because I didn't know what I owed. The collector just got annoyed and hung up. You guys helped me from before. It was $35,000.00 in medical bills. All wiped out by the people you recommended. Thanks again playa.

[@nf4866]

That's cool, but it's "debt".

[@johnathangreay987]

@@nf4866 I'm not lying. I was such in a bad place because of my asthma. And why do you care so much about my spelling anyway? Who the hell really cares? Nobody but guys like you. Ultimately no body gives a crap. As long as my point got across which it did. And if that's really you which I know it's not. Try to be yourself instead of Samuel L. Jackson. And why do I care. Because it's obvious you are insecure about the way you look. The real Samuel L. Jackson has no debts. There I spelled it right. Don't tell me in used a dangling participle.

[@robsolo127]

I had a collections debt of $40,000 for medical and never made a payment for about 5 years and just recently I disputed it on credit karma and 3months later it was completly wiped off my credit report

[@kristopherjohnson4954]

Rob Solo how did you that I got medical bills out the ass

[@shamicajohnson591]

it's easy to get medical bills that high. people can't always afford health insurance.

[@Sulfen]

I've wiped several medical bills from my credit report. Legally they can't verify your debt because of HIPPA laws. The only way they can verify the debt is if they have you sign a HIPPA waiver so don't sign things blindly.

[@Sulfen]

First of all this only applies if you haven't paid anything to the collections agency nor confirmed to them over the phone or in writing that you owe that debt. If you've done any of those things then you should probably get a financial adviser. Otherwise you simply go request your report from the website "Annual Credit Report". You can request it for free once a year and that website is 100% safe because it's controlled by the US government. You are gonna need to request your credit report from all 3 credit report companies: Equifax, Experian, and Trans Union. Medical debt usually appears on your credit report 4-5 months after you were sent your first collections letter. It will take 2-10 days for them to send you your credit report to your house. Look at it and look for anything related to your medical debt. Then you write a separate letter to each credit report company asking to verify those reports. Some of your debts will appear on only 1 credit report company and some will appear on 2 or 3 of them so pay close attention and write each one a separate letter based on your credit report. After you send your letter it will take 1-8 weeks for them to respond. They will either say that they could not verify the debt or that they could. If they said that they could not verify it write them another letter asking them to remove the debt that is not verifiable. If they say they could verify them ask them for verification paperwork/proof. If the hospital/doctor/credit agency provided anything related to your medical record then you need a lawyer to start a lawsuit for violating HIPPA laws. Most people wipe their entire debts when they sue the hospital/collections company as a settlement. Also, please be aware that just because you remove your medical debt from your credit report does not mean that you don't owe it anymore. If the hospital wants to they can still sue you. Although if you can't afford to pay it you'll be fine, the judge usually forgives most/all debt if you can't pay it.

[@derrickwashington8588]

Rob Solo. I have $40,000 in debt. How do I contest it on Credit Karma??

[@scottfirman]

I agree 100% on to what you are saying. When the original debtor writes off that debt,they sell it to someone else for a few bucks. They have written off that debt and you do not owe that collection agency. Never give collections agencys any information. Never admit to the debt. Dont say anything if they call you. A collection agency generally will harass you more the closer the statute of limitations has run out. Keep your mouth shut,dont admit to a debt. After 7 years,that account goes neutral. You can restore your credit without a credit restoration expert.

[@jred726]

Another thing you can do is dispute the collection agency's record of what you owe. Tell them to furnish proof that you owe. Most of them don't hold on to that information and they're forced to close that collection account once you dispute it. Credit karma has helped me dispute and remove 3 accounts that the collection agency couldn't furnish proof of.

[@Tony_A_441]

jred726 hmm, really? That's pretty helpful information to know.

[@jred726]

Tony A. Yes sir! If you have CK, find a collection account, if you have one and click dispute. The credit bureaus will then request proof from that creditor that you owe. If they don’t have it, it’s take off by the bureau with 30-45 days. Your score will go up from every account deleted. You can only dispute one report at a time. I suggest going for the account with the highest reported balance. Good luck, I hope I helped

[@emiliecovacari999]

So even if you do have knowledge of the derogatory mark did you dispute it as "I have no knowledge of this account" because they give you a few options, thanks!

[@jred726]

Emilie Covacari That's exactly what I did. It's a gamble but most of the time it pays off. These collection agencies are scammers and if you can beat them at their own game, do it!

[@Sam-od4xb]

jred726 great advice sir !👍

[@OohLaLush]

THANK YOU SO MUCH FOR THIS INFORMATION! IT'S CRUCIAL!

[@MZ-ol4sb]

As a result of watching this video, i appealed a $960 debt with a collection agency. It was removed, my score went up 30 points and i didn't pay a dime on that amount. Thank you!

[@bonnivilleblackcherry9745]

if ya stopped spending money for a fake face you might be able to pay your fucking bills. Fucking kids these days expect everything for nothing.

[@MZ-ol4sb]

Bonniville Black Cherry wow, you're a nasty person. If you must know that is my real face, all natural. I have a career, three kids and i freelance as a model. My son had minor surgery on his thumb and due a discrepancy with insurance billing i was left with the balance i mentioned. I do respect you're honest opinion though and I'll pray for that wicked soul of yours.

[@marcg7535]

Bonniville Black Cherry it wasn’t that serious

[@williamcorley2477]

Bonniville Black Cherry lmao mishi wacked the fuck out of you 😂😂😂 not even a come back? Damn son, go eat a tide pod now and think about the dirt you tried to throw 🤣

[@prissylovejoy702]

So who is actually the one who reports u to the credit bureau ? The original creditor or tha CA?

[@intrepidfox37]

Yes, to not paying the full amount to collection agencies! No, to paying for credit restoration. Everything they do, you can do for free with by spending some time and effort researching what they do on your behalf.

[@simonsdrift]

I went to court about a bad debt it was past the stature of limitations in this video I was my own Lawyer and I had a bunch of papers I kept from my original debt holder who threaten to take me to court but decided against. The people trying to collect did not have any kind of paperwork at all . DO NOT be afraid to stand up for your self I seen about 5 people in court with me who were paying these collection agency without even presenting their case.

[@alverezvillan]

Keith Cahalan ..... I was in a court situation also.... I was summoned by way of sheriff... I believe it was a law firm that was collecting the debt... how could I have fought that?

[@phade2blaq]

Donald Trump right now owes an outstanding loan to Deutsche Bank of Germany for over $300 Million dollars. Will they put that in collections? LOL

[@thomasgranger2959]

This shit works !!! Collection agencies now hang up on me .😁😁

[@deborahcole6999]

I was involved in a mess with a collection agency about an old cable bill, where they said they didn't receive a piece of equipment back from me when I cancelled service 12 years ago. I refused to pay the $500.00 they were trying to extort from me. They even admitted they could've made a mistake but they could do nothing about it since it had been sent to collections already and it was no longer THEIR responsibility. They (collections) kept offering me lower "settlement" amounts but I still refused because I sent the equipment back in their packaging!! THANK YOU FOR THIS VIDEO! Very insightful. I feel incredibly empowered now!!

[@deborahcole6999]

KEEPING IT REAL WITH CREDIT THANK YOU!! That is a very nice gesture and you've helped me more than you know already. I will keep your info and I may indeed impose on your expertise again! Your knowledge is invaluable. THANK YOU AGAIN!

[@mylordmudd61]

These people like to call without proper caller ID. When I get one of those calls, the first question I ask is "What is your authorization number?" 90% usually hang up at that point.

[@erict7093]

mylordmudd61: would you please elaborate more I don't understand.

[@mylordmudd61]

I get a call and the caller ID says a city and state and a number. No name or business name. I immediately ask them for an authorization number ( which must be requested in writing in advance). If they ask why I tell them that all callers to this number without proper caller ID MUST have an authorization number. My number, my rules, by law. If they fail to provide proper authorization number, they receive the following message: Hanging up on this call does not exonerate you of your legal $25 debt. This is a legal cease and desist notice. You are hereby notified to cease and desist all contact with this number. There is a $25 notification and processing fee. Your legal debt is now $25. A $100 late fee will automatically be assessed to any outstanding balance in your account on the first of each month. Your consent to this is automatic. All payments are made by Paypal to ( my account ). Thank you for your swift cooperation in resolving your legal debt. Have a nice day.

[@sassylovee9724]

mylordmudd61 I just hang up Lol

[@brrjohnson8131]

mylordmudd61, so then you give your actual PayPal account info and...anyone pay yet?

[@mylordmudd61]

Why not, nothing in it, and no, nobody as stupid as you yet, but it is meant to discourage because I don't like my phone ringing at all hours because of useless waste of space people like "Cardholder services."

[@cuauhtliastorga7869]

4.4k Debt collectors do not like this video!

[@Mr.Media.Graphix]

Cuauhtli Astorga 😂😂😂

[@quez4286]

🤣🤣🤣🤣🤣

[@JamesKro92]

Lmao

[@vergiesmith4403]

I enjoyed this so much. Pls continue to bless others with this.

[@lovejoy9592]

Rule 1: Don't answer the phone if you don't recognize the number. If you answer the phone and they want your name, ask who's calling and say "wrong number." Rule 2: If you get a collection agency letter (sometimes disguised as a law firm), do not respond to the letter, do not acknowledge you received the letter. Rule 3) Yes, there is a statute of limitations for when an unpaid bill goes to collections, and a lot of agencies will not take you to court for smaller amounts. Rule 4) Don't panic! There are ways to increase your credit score. Rule 5) If you owe a bill, the agency will try to contact you again for payment even after the 5-7 years have passed...ignore them. He's right. When you admit to a bill, you've reactivated that account again.

[@monie948]

yes there is a statute of limitations, and you can wait it out, but you won't be able to get credit somewhere for seven years, that's a long time. you should try to make payment arrangements for less than the amount you owe.

[@TheSpykeeper]

Ignoring it is worse.

[@richardrosario1338]

No zombie hmm . nvm oh zoo . I y prix

[@amygonzalez7131]

@@monie948 even if you pay it it still looks bad for at LEAST 7 years trust me I know I had a issue with Sprint ( worse it was someone else who took the phones out in just name because he had s friend working at the store who did it for him) anyways I ended up with a 1200 a bill for something I didn't even use they k ew I told them the whole truth and instead of trying to fix it or look into the crooked employees and doing something since who knows who else they did this too, no they just kept harrassing me. I told them over and over I wasn't paying It and they never took me to court or anything but they called and mailed me steady for well over 7 years this happened my son was 1 and the last call or lettter I got was a couple years ago 2016 exactly and my son is now 15 so yeah statute doesn't mean anything to them. So I finally caved and paid well guess what it still looks bad on my credit even though it was paid in 2016. It still is something that keeps me from being able to get credit because I don't have a lot of credit I have quite a bit of good but most was before this my perfect car loan that paid off other cards and still I get denied for phones or I have to paid super high deposits and go on provisional plans so yeah even saying the damn things still hurts you. You're screwed either way

[@SleeplessinOC]

lovejoy9592 what if admit that it’s yours even if it’s past the statute , it’s been off your credit report for years now , and THEN they somehow got you to verbally admit it’s yours? Does that deactivate the debt ? I hate a collections that is calling about a very old debt that has been off my report for at least ten years and yes, I was stupid enough to be tricked into admitting its me but I did not acknowledge that that was my debt. Thoughts ?

[@rickg2492]

this video is spot on -10 years ago I had a setback, and with my research and the information I gathered - I did exactly what he said. Do not let collection agency intimidate you.

[@kimberlybeaumont76]

rick g statue of limitations is key

[@antonioperkins1824]

Collection agencies would make a lot more money if they just accepted full payment in exchange for removing the negative listing on gour credit report.

[@TheAngeloShow1]

Soon as,I found out it stays on yoir report even if u pay it I was like yeah not paying that

[@rmc169]

@@TheAngeloShow1 so glad for this info too. I have 3 collections on my name not mayor probably about $700 and I was going to pay them so they could be removed from my credit. Well I was also searching on how to better my credit and read somewhere not to pay them because if they are like say 5 yrs old they will still show but now it will be worse because it will show the date current activity. Basically it will show it was active on that date.

[@I__Love_Lamp]

I really whole heartidly believe this but there is to much money to be made to make it that easy on the consumer.

[@sprofitt777]

If you make a letter and send it to the agency, you both sign. After you pay the debt the negative it will be removed off your credit report, I know because I have done this. Also, in most states negatives go off your report in 7 years whether it is paid or not.

[@hbcufootballmatters3425]

You can get in writing a promise they would remove it upon payment. I had 2 things taken off of my report, even without the promissory.

[@crystal71333]

I owe the hospital $700 out of $1,600 I don’t have a job rn so they literally kept sending me letters when my fiancé got unemployed and stoped paying for like a month they stressed me out because they we’re literally crying for $1,000 at least we were paying a month $50 better than nothing and today I got a letter saying I owe $83k which I know is not right since my insurance paid part of it and my responsibility was only paying $1,600 I swear these hospitals cry for $700 of money they should be happy we’re at least paying $50 a month

[@lookupvcorpinvestcom6852]

You should go to *Forbeshacks.* _Xyz_ They help in paying bad debt and fixing bad credit records.

[@sigglock1757]

I moved and never got my mail..debt collections came and when i thought paying them was the right thing to do it did nothing but ruin my history for little 10 dollar collections...this guy is telling the truth

[@jmg1271]

I worked for a credit bureau for over eight years. A lot of what he is saying is true. There is a statute of limitations, don't sign any forms or ever admit to them if you want to dodge the bullet. At some point the derogatory information (about seven years), will get dropped. There are situations where you might need to pay it off like trying to get a job. Part of credit reporting is demonstrating that you can pay your bills and everyone knows things happen especially collections. If you can, I would go to the collection agency directly and get a hard copy receipt of the transaction that also states that you want the trade line removed because you can make that actionable in court down the road if need be.

[@jonathanvillalobos7994]

+R Goods Is it true you could go to jail if you don't pay ur credit card debt?I heard if you have a court order for bad credit and don't show up to court that they can lock you up.And still lock you up regardless.Is that true?

[@herberthutchinson5377]

Jonathan Villalobos if your being sued you need to show up, if you have been served and are aware of the court date. If you just don't show then yes you can go to jail and lose the case as well. But apart from that there is no way a person can go to jail for not paying his bills. The only exception would be if you defrauded the credit agency and used false information to get the credit. Then yes they can charge you and you could go to prison. But if its legit, if Chase wants to give you a credit card with a 5G limit and you go out and charge it to the max and then don't pay....there is no way you can go to jail for that. Good Luck

[@jonathanvillalobos7994]

+Herbert Hutchinson Thanks for the advice Herbert!

[@donixion4368]

For credit Card debt, no, they are not going to send you to jail if you do not show in court. What will happen is that the company who owns the credit card debt will get a no contest default judgment because you where not there to defend yourself in court. The only debts that can get you put in jail are ones that are the result of fraud or a Tax liability or child support. A credit card that was legally obtained by you and simply not paid will NOT land you in jail even if you do not go to court.

[@jonathanvillalobos7994]

+Don Ixion Thank you for the advice Don.

[@MacAutomationTips]

Just want to add, though this solution is correct, it's also best to stay away from using credit cards especially if you don't know how to properly budget, and you're living above your means. After you get out of debt, learn to how to stay out of debt. Don't allow other ppl to make money off you.

[@rosedavis7836]

MacAutomationTips

[@anneliseharrell8531]

THANK YOU! MAY GOD BLESS YOUR LIFE FOR HELPING US! IN JESUS NAME AMEN!!!!!

[@2Bonita08]

Most employees are rhere to help employers make money off their labor.

[@msnknight6285]

This is false, a credit card has numerous benefits, like being able to purchase goods and services online with 100% fraud protection; if you use a debit card you are liable for any charges but with a credit card the credit card company is liable for any fraudulent charges. Same goes with using a debit card anywhere else versus using a credit card. Credit cards are great, but you have to stay on top of the balance, a great strategy is to pay off the entire balance every day or every other day which you can do in 30 seconds online. If you don't think you can continually pay off the balance like that, then yes don't use a credit card.

[@CASTRO45ACP]

msnknight Agreed, I've done dumb shit like that with credit cards so once I'm done getting out my hole I probably will only keep one card for emergencies.

[@heseesall25]

Thank you for being honest with the intent of being helpful to those who aren't well versed in collections and credit!

[@kwmasterbarberuniversaldia3530]

GREAT INFORMATION MY BROTHER ‼️ May the lord almighty continue to bless you, your family & future in JESUS name 💯💯‼️

[@tomhicke5843]

this guy is a f*ing moron and full of sh*t

[@jessicamoore7923]

KWMASTERBARBER UNIVERSAL DIALOGUE whereas this he’s saying is true and I agree; even as I’m a Christian, I’d be lying or better yet, misquoting the Bible should I say he’s actually doing the work of our Lord and Savior. Please think about the passage in the Bible Psalms 37:21 “ The wicked borrows but does not pay back, but the righteous is generous and gives;” plz don’t mistake me as I’m not calling u, the owner of this video or myself- wicked.. it is well known on the Bible tho that not repaying a debt is a sin. A sin is defined in Lamons term as anything we do, think, or say that is contrary to the will of God or to the word of God. So because I fell on hard times and haven’t been able to repay a debt, after only 2 months of being delinquent with a Redstone credit union account they turned it over to a lawyer who took me to court to seek a judges order. However, normally sum1 with “earned income” would be legally held to the repayment at the lawyers and courts discretion, cuz I receive only unearned income (aka disability and child support) even tho there was a repayment plan the attorney gave to me, they can legally hold me to it. By “legally hold me to it” i simply mean where they can garnish ur wages. They can’t touch unearned income. However, using the word of God as a reference, God still holds me to it because initially I broke the agreement & my justification for why I’m not repaying after the fact is 1. The payment isn’t that affordable; but I could probably swing it if I had an incentive. Reason being I don’t have an incentive is cuz the attorney told me that they WILL NOT REPORT TO THE CREDIT BUREAUS, as me paying AS AGREED. So by their repayment plan, for the amount borrowed plus $1500 in penalties charged by the attorney, it’s take me at the “rate agreed on by the attorney and judge” it’d take me OVER 7 yrs to repay. And that whole time I’d still have a negative rating with credit bureaus on account of him not reporting to them and the original debtor reporting I defaulted. So to me it seems senseless although I’m sure even tho God will forgive my sin, I’m still at fault according to the word of God. I’ll include 1 more quote about paying our debt per the Bible as to hush with my log post, lol. And I’ll include other references to it at the end of this post. Romans 13:7-8 ESV “Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed. Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.” “ & an interesting fact is this- Money and possessions are the second most referenced topic in the Bible - money is mentioned more than 800 times - and the message is clear: Nowhere in Scripture is debt viewed in a positive way.”May 24, 2012 I hope none of u think I’m being hypocritical or judgmental as I’m not just trying to teach the above to this guy or the video maker but I’m wholly including myself. What my purpose of writing this is ALL ABOUT, IS THIS... I wanna draw awareness to us all being able to call sin, sin. So many, nowadays wanna “SUGAR COAT SIN FOR THEMSELVES” but if we read the word of God, it’ll plainly identify sin and if we’re saved by accepting Christ into our hearts and lives’ then from God, he gives us the Holy Ghost, which is what convicts us, as our conscious kinda, and HE will tell us what is right and wrong, but that’s if we take time to be quiet and listen for him, are openly ready to identify sin in our lives’ and if we have knowledge of what is right or wrong in Gods eyes. The Bible says Knowledge comes by hearing the word of God and that faith only comes by Hearing and Hearing comes from the word of God. I think I quoted that last part right. Plz forgive me if it isn’t. No one is perfect but ya know I’m ok with that. Ya know why.. well 2 reasons come to mind: 1 no one the Bible says is perfect and “ HE WHO IS WITHOUT SIN, CAST THE 1ST STONE” Jesus said in response to the action of stoning to death, some were doing to a well known harlot (aka.. prostitute or whore” & in another part of the Bible it says this in King James Bible John 8:8 “If we say that we have no sin, we deceive ourselves, and the truth is not in us” wow that speaks volumes)” & 2. If I was perfect then I would not need a Savior, would I? And to me not having that relationship with Christ would make me feel imperfect Extra verses: Ecclesiastes 5:5 ESV “It is better that you should not vow (promise or give ur word) than that you should vow and not pay” Romans 13:1-7 ESV “Let every person be subject to the governing authorities. For there is no authority except from God, and those that exist have been instituted by God. Therefore whoever resists the authorities resists what God has appointed, and those who resist will incur judgment. For rulers are not a terror to good conduct, but to bad. Would you have no fear of the one who is in authority? Then do what is good, and you will receive his approval, for he is God's servant for your good” Within reason we’re to follow the law, unless it was contrary to the word of God aka ‘mark of the beast’.

[@PraxisOfHealthBillFaulkner]

Hi Ray! Thank you very much for this information. This is the kind of information most people in-the-know do not share publicly. I commend you for wanting to help others Ray.

[@ABA0179]

R Goods can you email me at [e-mail] please. I would like to ask you a few questions.

[@tinaingram4944]

Bill Faulkner Amen

[@MichelleMelenaStarTorres]

I highly urge all parents or guardians to start talking to their kids when they are young about the importance of having and keeping great credit and starting immediately with their first ever bill that they acquire. I believe bad credit habits start with people who weren't ever taught. I think this discussion is just as important than the birds and the bees discussion. Ohhh.. and yah my credit stinks, man do I regret not understanding early on!

[@pound4pound740]

Michelle Torres how do I build good credit or even start one tho?

[@jessikapiche6097]

credit = trust get one credit card (student credit cards are normally limits to 500$ or more) and make a purchase with it. Let's say about half the max amount you are allowed. (you now have a debt of 250$). When the bill come in (every month) pay back more than the minimum to lower your debt to 75% that amount (your debt should be now at about 60$). This will 'tell' the credit company you can be trusted and you can pay back your debt and manage your expense. Do this for 6 months. (buying something then paying it back, always on time, always more than minimum amount required (that info will be display on your invoice). Then, after 6 months, either ask for a bigger marge of credit (let say 1000$ instead of 500$) and see if they agree to increase your limit. Often you will not even need to do this, they will phone you or sent you an email asking if you would be interrested getting your limit heighten. Normally in a few years, you should have a great credit. Of course, that doesn't do everything. Your salary, the time you work at your current job, will also give you a better chance at getting the car you want with the credit rating you have. No one would trust you with a Ferrari if you don't have the corresponding salary, whanever the credit rating you have...

[@MichelleMelenaStarTorres]

@@pound4pound740 Start of by maybe financing a small purchase like a $500 stereo, make your monthly payments on time and it won't be long until it is paid off. This would be an easy feat for teens living at home because usually they are not paying rent or other bills. Take advantage of this time that Mom and Dad is helping you. These are major stepping stones to the success you have in your Adult life, even though you don't realize it now Kids !!

[@esetek]

Michelle Torres you slave

[@esetek]

Michelle Torres sheep

[@deborahwright4828]

Too late! I just paid off half an overcharged bill by Comcast to a collection agency. They said to pay half. I did a couple days ago. I also paid a bill to collections that day & got a bill from the owner of my bill saying my bill is overdue. Crap! A little too late but I just subscribed to you. Keep up the good work, speak the truth, stay well & be safe! God Bless You!!!

[@pogmothoin1987]

I have heard this advice before. I also heard that the best way to handle it is to try to pay the original creditor to whom you owed the money before they sold the debt to a collection agency. Some will negotiate a lower amount. If you pay nothing and just let the statute of limitations play out, your credit takes the hit for the unpaid debt for all those years.

[@anthonyguarnieri3596]

100% complete accurate information !!!!! I had major credit issues in the past I actually worked with a few of the companies I had debt with ( NOT COLLECTION AGENCIES ) to settle for a lot less than I owed. Because I came to a time I was able to do it and I wanted to speed up the recovery process. Today I dont use much credit, I dont carry balances unless I decide to buy something that takes me a 2 or so months to pay off and my credit score is almost 800 I also used a credit repair company, They werent scammers, they were an actual legal firm with excellent communication and treated me like I was their only client to help me with a few cases I was not able to solve on my own and they were very helpful.

[@neoplasma1]

Anthony Guarnieri soo are you saying I can stop paying my mortgage?

[@mrs.spicer]

Neo Klyptic uhhhhhhh im pretty sure no he is talking about COLLECTION accounts num num

[@freyaodinsdottir2207]

My mother was formally a bill collector and she said the same thing.

[@JimmyKraktov]

Don't ever talk to them. Don't answer the phone, ever. After 2 yrs, when they haven't taken you to court, it means they have no reasonable chance of getting you to pay. Fuck 'em!! I did.

[@coinstacks2455]

Jimmy Kraktov what about your credit score? Hah.

[@karenbaird7402]

Debt collection over text is scary I’ve been in the emergency room I want a paper bill

[@jerryostrowski6282]

I never paid a collection in 20 years. I pay everything in cash if I can't afford it I Don't buy it.

[@iWannaBeHeardNotSeen]

Best Comment 👍

[@hasansadig8758]

I also want to follow that motto,but when you want to buy a house and we all dont carry $500,000.00 in our pockets. What do you do? Take a Mortgage or a Loan. in order to do that. We need credit history

[@kjvwarrior777]

I had a injury, had to go to the doctor, did the math, it was $5000.00 an hour for 6hrs = $30,000.00. And just like that......

[@seriouskaraoke879]

@J Idowu -- Well said and reasoned. There's two things that work against what should be just a tool, a valauble and useful too, but a tool nontheless. The first is the idiotic Christian biblical doctrine that debt is evil and interest is usurious. You can damn well be certain that it was a guy in debt who wrote that edict thousands of years ago. But here we are today, right here in this comments section in fact, with people having been brainwashed into thinking that credit and debt are evil, immoral. Not the only thing crazy in the Bible, but it's a biggie. The second is a lack of financial acumen. For most people, and that includes college educated professionals, finance is voodoo. It just scares the crap out of people, the terms, how it works, the paperwork, the fancy terms, and especially THE FUCKING MATH!!!!!!!!!!!!!!!!!!!!!!!! And nobody wants to admit that they're ignorant so they just get bent over and over and over and that jades them even more, etc. Financial management should be taught beginning in Middle School. I have an MBA in Finance and 25 years of Corporate Finance experience and I know that the big secret that all financial professionals are in the know about is simply this -- it's just a curtain and we're all just pretend wizards. There's not much to it when you get behind the curtain, as you obviously know. I'd just modify your comment by adding that debt is best used when it can be leveraged and is worst used when it's for consumption. A mortgage is generally a leveraged used of debt. Cars...not so much. And education... used to be a leveraged use, not so sure now. I know you know what financial leverage is but for the rest of you sad saps out there, financial leverage is the concept of using debt to acquire profit making, wealth building, assets. The idea is that the cost of the debt is fixed and if applied to an asset that is going to grow in value over time you will have leveraged the debt for higher level of wealth than you otherwise could have obtained with your cash reserves alone. So the general idea is you only take on debt when it will make you money. Consumption debt is just a yoke around your neck. Obviously medical debt is whole other dealeo. But insurance is also part of financial management and is just as important as any other part of your financial plan. In fact it's the first layer that should be adddressed, security. Security in the form of insurance whether self insured or third party including saving 6 months salary as an emergency fund etc. Shit happens and nobody can withstand a disaster. It can financially ruin you forever. The second most important concept of personal finance is real simple and it's rare to find it in practice. LIVE BELOW YOUR MEANS. That's the big secret. That's how you save money that you can then invest in assets that will make you money over time. Everybody can live below their means, just nobody wants too. The family bringing in $500,000 a year looks down the street at those poor slobs only making $250,000 a year and they shake their heads and wonder how the hell do the do it? And the $250,000 a year family thinks the same thing about the $100,000, how in the hell do they manage to survive? And the $100,000 family thinks the same of the $50,000 family who thinks the same of the $25,000 family who think the same of the $12,000 family. It's real simple. If you're the $75,000 family, you live as if you were the $50,000 family and if you're the $50,000 family you live as if you were the $35,000 family and so on. If you managed to hang with this comment this far, do yourself a huge favor and buy this book: Andrew Tobias' _"The Only Investment Guide You'll Ever Need"_. It really is, and he gives it to you straight just like the preceding example.

[@aceboardtheangler5252]

Great vid bro, knowledge

[@koolmanlou]

I'm glad you have posted this. Yes enlighten the masses. The credit card companies, phone companies, etc. They write off their debt and then sell it off to debt collectors who are only trying to capitalize on bad loans. It's the uninformed persons who feel vulnerable and pay then thinking they're debt troubles have been resolved. Just know when you are having trouble paying off your credit cards. Your best bet is to call your credit card company and work out a payment plan with them.

[@angelaschrade5679]

koolmanlou. I tried that BEFORE a problem started. My husband died and his income stopped immediately. I paid as long as I could and eventually became delinquent. I will never hold a CC again. When my husband died I was short on burying him by $200 and asked for an up in my credit for that amount. The account was never delinquent and I hadn't ever asked for a bump in the 5 years I had the card. They have no heart and I won't give them another $$.

[@cbtyra]

I have learned this from my own research. It is all true, and I thank you R Goods for posting!

[@AnaRivera-cy9ku]

I don't understand how people think they can charge up thousands of dollars and think that you don't owe it! RIDICULOUS!

[@collin669]

You have to understand contract law.

[@LaTerricaJ]

thank you for this information..I've been budgeting my checks in preparation to pay off collection agencies..so happy I researched via KZbin and found this video

[@epramos6800]

My father always drilled into us kids, that credit doesn't mean you have money.

[@Superman-xr1oh]

Clorox Bleach Pay cash for a $300k house?

[@Superman-xr1oh]

Don Harris GREAT response.

[@billybassman21]

Yes, credit helped me a lot through life and saved me from losing my car and apartment/house. You get burned with no credit with payday loans, higher interest rates and paying deposits for everything. Not having to bother friends and family for a loan when you need a new $7000 a/c for your house or a new transmission for your car is very empowering.

[@billybassman21]

gazú, Well at age 41 I own my own home, own my SUV out right and have a credit score of 805, so I must have done something right. Regardless how financially responsible you are things come up. A lot of my debt back in the day was for dental work, medical and when I lost my job due to being laid off. Without credit I would have been in trouble. The most I have ever been in debt was 8 grand, but it has long been paid off, never defaulted on any loans. Ideally you want to have money saved up for things like that which I do now, but it is hard when you're trying to live on your own making $8 to $10 an hour. I had friends that went through 8 cars because they bought old ones that kept breaking down and had lights turned off because they didn't pay bills when times got tough. I had a low end new car that worked great and used credit when I couldn't pay essential bills, kept the lights on and kept my credit good.

[@biancablast8153]

billybassman21 bullshit

[@brianw4118]

Do not pay collection agencies? I like this video already

[@johncrocco3127]

Lol

[@jamielc3437]

It checks out

[@deannekliene2673]

He is correct about that....

[@lizmyers469]

This only works if you owe maybe a small amount. My parents were sued for 30k in credit card debt. They didnt answer phone calls, but got letters from lawyers saying they were being sued and then process servers started showing up now they have lawyers involved to work with the credit card companies to negotiate it down.

[@camposjesus3725]

Yeah anything above like 5 thousand is something they'll sue for.

[@am7884]

Bankruptcy or move to a different state that does not allow credit card garnishments.

[@SandraWade666]

I've actually had a lawyer sue a collection company on my behalf for harassment and gotten $300 :)

[@jerrylundegaard2592]

"Gotten $300?" What does that mean?

[@SandraWade666]

Do you speak English or nah

[@chertericamilam1246]

Whaaaaat lol

[@grover722]

@VKRGFAN I sued a collection company too and didn't pay for a lawyer and won $1000!! If a collection company "breaks" the law while trying to collect debt you can sue them!

[@diariuskikland6815]

@@grover722 know that's synth I need to know how'd you do it?

[@anthonyalexzander2104]

He is correct it does not help to pay an agency. I stopped using credit 16 years ago, at first it was difficult but now I can save enough to buy a car cash because I don't pay fees.

[@capercalgary]

Anthony Alexzander n

[@juliettinner5807]

I totally agree with you Anthony but then do you know that sometimes it doesn't get to work that, I disputed my negative files , 2 months passed , I spent 107 USD trying to ask these credit companies to help me but they were so busy that they just charge me and give me BS crap . I ended sourcing for alternative, I used one programmer sometime to delete my records and also boost my credit . Am 780s and almighty thanks to the Daniel guy behind my smiles . I applied already and I got it just in 4 weeks interval . Danielsten @ workmail . com would be his personal email domain . I only can urge you to give him a try and see the outcome. and by the way , I can facetime with you just to show you my current scores if you so wish . Good Luck

[@anthonyalexzander2104]

I do not have bad credit and never did. I worked in collections. I do not use credit it is a suckers game.

[@249fresh5]

Anthony Alexzander man you sound stupid the riches ppl in the world became rich of m credits

[@anthonyalexzander2104]

Smarter than you because I can write and it appears you have trouble spelling.

[@leti.s.6253]

It's 7 years in most states. Bad debt will be on your credit report regardless of whether you "admit guilt" or not. If you cant pay it off 100% immediately with the original creditor then dont touch it. If you make a $1 payment after 6yrs and 11month then the 7 years starts all over.

[@nancygonzalez7538]

You can always dispute it with the credit agency

[@pettermillar4158]

Leticia can you tell me after 7 years when it is removed from your credit report can you mention that in Court if you go there so that Judge can know that you do not have that debt on your credit report anymore.

[@Whitetooth1030]

This is a master class on credit you can’t even get at universities!! Big ups to you my g!

[@simba1523]

The statute of limitations in my state is 7 years and some people should be aware that making a promise to pay even if you do not pay can also restart the clock.

[@convex7456]

KEEPING IT REAL WITH CREDIT ok so if i never answered their calls and never admitted to anything and its still on my credit. Then they broke the law?

[@jmeastro1364]

no they have verification that you owe the debt, they send you a letter when they receive the debt stating that " If you feel you dont owe the debt you need to dispute this withen 30 days or it willl list to your credit file" so by not responding within the 30 days you admit to the debt and it lists to the credit file. They already have verification via a contract you signed or your SSN that was given by the original creditor. you signed something that would have stated they used a collection agency. best thing to do is just pay the debt then after its paid ask them to remove the neagative remark from your credit file which they can and in most cases will do. this guy is a quack dont listen to him

[@simba1523]

Tin Tin They will have proof of your recorded phone call and simply agreeing to pay for the debt will restart the clock on the statute of limitations even if you didnt follow thru on what you agreed on. Do not setup a payment with them if you plan to let the time expire.

[@CarolinaNIM]

I cannot thank you enough for posting this video! I had gall bladder surgery last summer. My insurance paid some but not all of the bills. I'm getting calls from collection agencies, some like clockwork. I let the calls go to voice mail and most of these agencies only leave pre-recorded messages anyway. I'm glad now that I've never picked up on any calls or answered any letters. I figure that since the insurance has paid and the collection agency paid, nobody's hurting. I figure that not identifying myself comes under my Fifth Amendment rights.

[@jessesmith6517]

Ronald Anders Mr. Anders my name is Katie, i can appreciate your situation, but he is not 100% accurate, your bill is too fresh, you are not out of Statue of limitations, FDCPA allows the agency collecting for your medical bill and they can come back and garmish your wages or bank account unless it is SSI/ SSA money. Try the hospital charities that offer to pay patients bills. I was a debt collector for 15 years and managed in the debt collections dept. At a law firm, we definitely sued a lot of people who thought the same things he's claiming and it could have been avoided with a payment arrangement. I hope this helps.

[@hhrey1892]

Get an Iphone and then just block the number so they cannot leave you annoying msgs. I don't have any debts right now but you never know what can happen in the future. I wanted to watch this guy to see what he knows. He knows a lot and his information is correct.

[@The_YouTube_Critic]

Yep, this guy is going to get a lot of people sued and ruined. When you get a mortgage, often the bank will sell that mortgage to a new company. Does that mean I just don't have to pay any more? Yeah, try that and see what happens. The agreement you have can and will be sold and you are still responsible for paying.

[@d.r.robinson9599]

wow...an attorney was involved with me to pay off a credit card...bitch was nasty as hell with me in the beginning but she must of been reported cause later on she was super nice as hell...

[@DHarri9977]

Mrreasonablethinker, you are correct, servicing debt is not the same as purchasing debt. The outsourcing of debt has become the norm for many tech and medical billing companies. This means that the original party is still a stakeholder of the debt. You can still be sued per your example normally the medical side of billing takes precedence over lab expenses which in many cases the lab companies will place your account with a collection agency per whatever percentage is covered under insurance and the amount not covered and is the responsibility of the debtor. Many collection agencies basically provide a service for these companies, in other words, again, they outsource the accounts and pay a percentage back to the collection agency. The original debt holder may or may not offer settlements.

[@Heyemeyohsts]

I like how he zooms the camera in, before he gets serious.

[@Jeff82556]

That's only because he's full of himself. But how is he going to talk without flapping his hands and arms all over the place?

[@christensanders340]

Even if it is you , they still don’t have a lawful and legal contract with you

[@edennis8578]

But never say yes in a recorded conversation. Unscrupulous people will use the recorded yes, cut it into the record after a question and say that you agreed to something that you didn't.

[@asappestcontrol1250]

I settled for $80 for a gym membership at Bally's I believe in the early 90s. Then 20 years later collections tried to get me to pay the $2,000 which I told them I settled for $80. They told me that no one would ever settle a $2,000 debt for $80 I told them I have the documents (which I lost by then) they hung up the phone.

[@maddoxtazz]

Wow. I just came across your KZbin page by accident. Thank you, thank you. thank you!!! I never knew any of this information prior to listening to your KZbin page. I owe a hospital and they keep harassing me and stupid me said yes I am so and so will never do that again. I'm now re-establishing my credit I subscribe to your Channel . again thank you so much for taking the time out of your day to post these videos they're extremely helpful.

[@mariekelly1175]

Jose Sevilla sounds like a scam. Definitely block them.

[@carmelmale23]

They already knew you settled the debt but was trying to get you to renew your debt which would make liable for the complete amount .

[@karenraedoll3064]

You are so down to earth and very helpful from the heart. I can see it in you your face and hear it in your voice. Thank you kindly for these videos!

[@sweetpapillon7265]

I wish I had met you years ago. Thank you for this information.

[@emmarobbieus9107]

Jessie Fitzgerald how about a student loan in collections?

[@kamsornthan5985]

Emma Robbie Us students that different if you don't pay.they just garnished out of your paycheck I believe 13% of what you make.and if that doesn't happen when you file you income tax.that when they subtract of what you own and leave you the rest .hope that help

[@emmarobbieus9107]

Kamsorn Than thank you that does help. Just wish I hadn't been so young and dumb when I took the student loan, I didn't even graduate.

[@elsaeinstein1183]

Your the real deal my friend. Thank you for looking out for us people that no nothing about this area. You have a new subscriber. . Take care. GODSPEED 👍💕

[@iamog9312]

Do what I do ..... Play them mariachi music until they hang up.

[@leahjames6870]

😂😂😂😂😂

[@jessicacousert3363]

I give the phone to my 4 year old son and tell him it's the ninja turtles..

[@nomadequipment2177]

🤣🤣🤣🤣🤣

[@nomadequipment2177]

That's even funnier if ur white

[@talateese]

🤣🤣🤣🤣🤣🤣

[@johnherman7449]

You want to know an easier way,.........buy a phone with caller I.D. don't answer it unless you know the number calling you.

[@statinskill]

Don Harris How about you don't do that, seeing it restarts the clock the item remains on your report for another 7 full years? Let me give you equally deleterious advice: Why don't you go and develop invasive ductal breast cancer?

[@johnherman7449]

Don't own a credit card, never have, pay cash for everything, don't bank, don't live on credit, don't need anyone to babysit my money or charge me a % to use it........never made any sense to me.

[@johnherman7449]

LOL......Look here whiper snapper.......I'm 53 years old, I own my own home, car, don't need or want a boat,......retired early with plenty of financial stability,......all cash and carry no bank,.....your either going to be part of the problem in this world our find a solution......best of luck to ya.

[@jimmyfaustjr7373]

amen. i dont answer my phone now because of these debt collectors. i text only.

[@PhrontDoor]

Sorry Daymon, actually more things are 'credit' agreements than you might think. Do you have magazine subscriptions, or utility bills... do you have a cell-phone? If you went to a doctor and EVEN with insurance, you are likely to get billed -- and if that bill doesn't reach you, it will go to collections. You see, collections will even hit people with NO credit cards and loans. We get it -- you are fiscally incompetent, but try NOT to spread your ignorance dressed up as pearls-of-wisdom.

[@aaronshensky9385]

I am NOT paying collection agencies. Thank you Sir!

[@allyouget4960]

Fr just call the credit bureaus and tell them it's not your debt

[@jeremyp5027]

wow this guy is actually telling the truth, thats cool, but yes you must look up the law for your state, some are 7 years.

[@djlee305]

THANK U SO MUCH MR. 305 U SAVED ME FROM MAKING A HUGE MISTAKE 😀

[@acemcdaniels1579]

100 % CORRECT!!! No contract with collection agency means you don't owe them anything!!! $000. Great Info

[@woodforever1]

Averyl McDaniels Agreed.. but once your bill is SOLD to a collection agency, it's a chargoff that stays on your CR for 7-10 years. And it also means the original creditor will not accept any payments because the bill is charged off/Sold. In other words, you are forced to pay the Collection agency. If a person is trying to buy a house. And the bank says, you have a unpaid charge off. For that person to get that house, the Charge off has to be paid. To who? To The collection agency. There's No way around it.

[@matthewvanostin5513]

actualy no. the company agreed that the collection agency will take care of the due payment for them that you have to pay anyways so its kind of act like an employee of the company. but their salary is 100% commission they are not stupid. they sign all the legal paper the only reason why the collection dont sue you is because 1) youre broke. so you cant pay shit. the only thing they could do is stress you out/fear you out to try to get the little money you got 2) the ammount due is too small and not worth going 2 years to court paying a lawyer to it usualy they abandon and move on after 3-5 years you still technicaly owe them money. but still they cant know if you became suddenly rich, or youre still the poor loser that cant pay shit lol but dont play with that. a bad credit might block you credit/loan/entrepreneur opportunities

[@woodforever1]

Mathew Van Ostin Happy New year! A little confused on your response. So your saying the collection agency is going to pay the consumer's debt?

[@matthewvanostin5513]

woodforever1 happy new year to you too basicaly lets say you owe 8000$ to ABC bank but you dont have the money. you are poor/unemployed the bank want the 8000$ back. but you cant give them what you dont have/isnt able to so a collection company will come. will say look i pay you 5000$. and you give the responsability of the 8000$ to mee the bank accept! they rather prefer 5000$ instead of nothing! and the collection debt will try to get that 8000$. to have a 3000$ profit! you owe the money & they are after the money! but if you cant pay nothing. there isnt much they can do althoe i dont recommand to not pay your due bills. expecially to banks! it gonna remain on your financial history for all your life! and block you from credit/loan

[@usaresident8181]

No, that's not what they mean. The entity that provided the goods or services to the account holder hires the collection agency to collect the debt for them. That entity becomes a client of the collection agency. As the collection agency collects money from a debtor they send payments to the client and then also keep a percent.

[@KT-hc7ze]

Thank man, I learn so much from your info.keep making new contents so we can learn from u.

[@Wanzysworld]

Go Canes. I wish I saw this video 10 years ago. But with the grace of God my credit is really good finally in the mid 700's

[@teeechincx5607]

Out Here Saving Livelihoods and Credit Scores😂🙏🏾🗣💯💯

[@bantalee2002]

As a former Corporate tax examiner i can attest his statement regarding bad debt tax write offs is correct. It is unlawful for any company to claim the bad debt write off to then sell the bad debt to collection agencies. As well illegal for a debt collection agency to collect,harass the debtor on the bad debt write off.

[@woodforever1]

Please provide Law reference. Thnx

[@woodforever1]

bantalee2002 If it's unlawful why is collection agencies are still in business? If it's unlawful, how come the FTC allows it to happen? Once a verbal or written agreement is made between the consumer and the creditor, the two parties are legally bind to a contract that says, if the consumer fails to pay, the debt will be placed or sold to a OCA (outside collection agency). These are the small prints that's written in the contract, that over 75% of people do not read.

[@javaman2883]

The FTC doesn't have sufficient staff or budget to effectively enforce everything they are in charge of.

[@woodforever1]

JavaMan With all due respect, that means nothing.

[@timekalillard5473]

bantalee2002 Thank you for the truth💯

[@6Sisu9]

My brother went off and got pay days loans for over 3k and walked away and never paid a thing back! It's been about 7 years now...

[@tyshawnmiles4866]

NICE

[@6Sisu9]

@@tyshawnmiles4866 I really needed cash and I dont care about my credit so I went off and got over $2200.00 last Friday and guess how much I'll be paying back....

[@tyshawnmiles4866]

nnice

[@mr.salteeznuttz4147]

Because of this video, I've never paid Predatory Credit Collectors.

[@chrgeorgeson]

THE SALTY RANT maybe you shouldnt go in default.

[@mr.salteeznuttz4147]

Chris Georgeson : sometimes in life things happen. Sometimes tragedy happens in life and basically these Predatory Debt Collection companies stop at nothing to make your life a living hell.

[@DomWars9999]

THE SALTY RANT Same here. Just forget about Credit and use cash or debit for everything fuck these corporate greedy fuckers

[@weschance8190]

Whatever

[@mr.salteeznuttz4147]

Dom Wars : as much as possible.

[@TremainHayhoe]

This is the most helpful video I've ever seen in my entire life

[@darlastarnes-lee1579]

Tremain Hayhoe yes, it is very helpful

[@Stifflersmamma100]

I agree!

[@losty150]

Hey brotha!! Awsome info here. What if I've ready admitted that it is me

[@yesink7590]

Mr. "Smith" YOU ARE A DOUCHE BAG IN THE FIRST DEGREE, spreading misinformation. Negative information is removed after 7 years. It is 10 years for a bankruptcy to be removed. Please READ the Fair Credit Reporting Act, also known as FCRA. If a credit bureau, creditor, or someone else violates the Fair Credit Reporting Act, you can sue and get damages. Under the Fair Credit Reporting Act (FCRA), you have a right to the fair and accurate reporting of your credit information.

[@deakdeagen938]

@YES INK - Smith may have missed the time periods for info staying on your credit report but he is spot on in his comment. This video basically tells you to avoid and ignore the collection agencies and that they have no real power or cause to come after you. That is absolutely false. If they choose to be persistent, which many are, they will get their money, either voluntarily or involuntarily (by court preceding) and there is little you can do about it. Best advise that can be given on this topic is to pay what you owe!

[@jeffbanfieldsflwr3537]

This was in my recommendations... KZbin knows too much!... lol

[@missjones7329]

Right!!

[@leenawalker753]

KZbin Shade af 😂😂😂

[@serenaholliday2929]

Lol..... Right

[@rheamcdowell3498]

Dont theu. I needed this soooo much

[@NicoleC007]

Right lmao

[@TeamVenture88]

For large debts, if you can get by with a hurt credit score, you're often just better off waiting out the 7 years for that debt to go away. But don't even pay a penny of it. If you during that time, can pay on time consistently going forward and you get a secured credit card and/or also a small (or not so small) secured loan, you can improve your credit in that 7 years, so when that time comes, you have a head start and the secured accounts you're making good with as well as paying everything else on time, your score will go up much faster than it was (in most cases) during that 7 years with the large debt.

[@KeepingItRealWithCredit]

Thanks for the great advice, Steven Ortolano! We appreciate your contribution to this discussion, and that's definitely sound advice. That being said, we want to make sure that people are aware of the other potential options. If you're in a situation where the debt isn't going away anytime soon, and your credit score is a concern, give us a call at 305-985-7682 or schedule a free credit consultation using this link calendly.com/dispute-nation/consultation We'll be more than happy to discuss our credit repair program with you and see if that's the best route for you.

[@trachelle35]

I'm glad that I watched this video. I had 2 collection companies call me today. The first one answered my questions about her name and the company she was calling from. She also informed me that she was recording the call at the beginning of the call. However she wouldn't tell me what she was calling about other than it was a personal matter. Now the second collection rep didn't tell me that the call was being recorded and wouldn't tell me what the call was about until I verified that I was who they were calling. He wouldn't even tell me that his company was a collection company until I told him that it was against the law to not tell me and that I could sue them for not telling me or trying to evade answering me if I was the person they were trying to reach.

[@rubyearmorer1952]

Great Info

[@ashleyg.2]

This is due to HIPPA if they ever state their company name before you ask "whats the name of your company?" OR tell you the matter of the call before verifying you by name and DOB/SSN/Address, you can file suit against them. Some people sue debt collectors for a living.

[@trachelle35]

@@ashleyg.2 I think you meant HIPAA. By the way, HIPAA (or HIPPA if you prefer) isn't used in the way that you just explained because it was created to protect a patient's privacy and medical information. I would suggest that you do a bit of research because I don't know from where you got your information. Now, unless the law has changed to cover non medical information, I'm still not going to verify any of my information with someone calling me without them identifying themselves, the company they work for, and/or the intent of the call. Not everyone is a legitimate debt collector. And just in case you don't believe me, 1. I have an associates degree in Health Information Technology and I'm currently working on getting a Bachelor's degree in Health Information Management, and 2.HIPAA: Acronym that stands for the Health Insurance Portability and Accountability Act, a US law designed to provide privacy standards to protect patients' medical records and other health information provided to health plans, doctors, hospitals and other health care providers. Developed by the Department of Health and Human Services, these new standards provide patients with access to their medical records and more control over how their personal health information is used and disclosed. They represent a uniform, federal floor of privacy protections for consumers across the country. State laws providing additional protections to consumers are not affected by this new rule. HIPAA took effect on April 14, 2003. Have a great day.

[@Annette1965]

Ashley Gilbert you don’t ever give your SSN over the phone.

[@JJ-xs4qf]

I didn't even know it was against the law not to tell that a company is from a collection company. Good info.

[@robsimmons10]

The problem with collections, isn't phone calls from collectors. The problem is the collection item on your credit report. Dodging collectors via phone won't do a THING for keeping the debt from your credit report. it's estimated 80% of the population has something on their report which could be considered erroneous-- you DO NOT have to admit to a debt for it to appear on your credit report. In this video, the presenter advises not to pay the collection. This is correct. Unless you are able to negotiate REMOVAL of the debt from your credit report upon payment, and get the agreement writing, DO NOT PAY IT. This is not a question of morality. The plain and simple fact, is that payment of a collection resets the "DLA" (date of last action), to the present date. In turn, this will cause your credit score to drop. You read that correctly; paying a collection will drop your credit score. The longer the collection debt has aged/sat untouched on your report, the greater the impact, when the DLA is reset. So, if you're having trouble getting financing for a mortgage, car, etc., the very best thing you can do, is work with a reputable credit counseling agency...preferably with one affiliated with a law firm. Fxing credit is a complex labyrinth of processes. Trying to fix it yourself, is like going into court without a lawyer. My advice is to pay the $300-$400, and get professional assistance. This is important: you can get the assistance you need, with a skilled and reputable agency for about $100/mo. Most people can get the results they need in about 4 months. There is no magic bullet in credit repair, and you'll have to follow the advice and processes you are provided. You may even have to pay the debts claimed. The higher your credit score, the less you'll pay in interest rates and other associated costs with loans, such as mortgages. This can amount to THOUSANDS of dollars in savings....which much MUCH more than the few hundred dollars getting professional assistance will cost.

[@frankwilson8566]

Rob Simmons I think you’re trying to say that the when you make a payment, or pay off the debt entirely, then a new DLA is established. This is true. However, the date that the debt was originally reported does not change, and THIS is the date that is used to determine the length of time that the debt has been listed on the credit reports (and when it will become eligible to be removed). If the debt remains unpaid during the entire time that it is listed, then the credit score goes down due to the unpaid balance AND due to the impact to the overall outstanding balance from other unpaid accounts. But if any payment is made, either the whole amount or partial payments, the creditor is obligated to report those. Then, even though a new DLA is established, the credit score begins to increase because the consumer is not only demonstrating good faith, but the overall debt goes down as well. However, the ORIGINAL date that the debt was reported DOES NOT CHANGE. A new DLA will only negatively impact the credit score if that same creditor posts additional amounts that increase the overall collection debt (such as late fees). Still, the original reporting date isn’t changed, unless the creditor reports the fees as a new account. Even then, the original reported date of the ORIGINAL account doesn’t change. The way you explained it makes it sounds like paying off collections restarts the clock and extends the length of time that the debt remains on the credit report. This is NEVER the case. Now, the creditor is not obligated to remove the paid account from your credit report until the legal time frame has elapsed, whether or not it’s paid. However, if applying for a loan, or a job, the new creditor will see that the balance is either paid off, or that the consumer has been making payments, which may be taken into consideration. However, left unpaid, the consumer doesn’t stand a chance. Even if the unpaid balance drops after the time limit is up, the credit score doesn’t magically increase (much). The overall debt will go down, but they still haven’t established a consistent payment history. A new DLA by making a payment will certainly NOT negatively affect them. It does the exact opposite.

[@frankwilson8566]

Further, any arrangements that the creditor makes with a credit counseling agency MUST be reported by the creditor to the credit bureaus. So, even if they are able to come to a full or partial settlement, or set up payment arrangements for the consumer, the creditor will still report this to the credit bureaus. This will create the very DLA activity you’re warning about, which negates your point entirely. Additionally, even if the debts show a zero balance, whether through full payment or settlement, the creditor is still not obligated to remove the account from the report until the legal time limit, even if the balance is zero.

[@MsRobinG]

@ Frank, thank you for your input/advice.

[@ApostleKasapu]

Excellent!

[@nigel9316]

Frank Wilson Excellent explaining sir!!!!

[@chocolatebeauty78]

I paid two collections. After I paid the first my score went up 17 points. The other I made a settlement on and score went up 31 points. That may not be much to some and you may have 7 years to wait for it to fall off. If it’s a small amount settle that and move on. Everyone’s credit history, and situation is different. It’s one thing to work for the collector but that’s just one side. But to each it’s own.

[@usarok85]

Takesha C Those score we’re likely your Vantage Scores, and not your FICO scores. That is good that your vantage scores went up, but it’ll have no, or almost no effect on your FICO score. Most creditors will use FICO instead of Vantage because it gives them a longer term idea of a person’s credit rating. Not saying that Vantage isn’t considered by no one. So that’s good, but not really that significant at all.

[@angelrodriguez3069]

*googles what a vantage score is because I'm only familiar with FICO*

[@adama5392]

@@jidowu6019 good luck I am sure we can do that... for a one time fee of.....$$$$.... Cha ching.... just let me get your credit card information...😉like trying to get arrest records removed when the charges were all dropped every time because you were not guilty... Pictures and charges still show up

[@ciprianofrutos9056]

I agree with Takesha. Maybe others have no hurry to fix their credit, but some of us do. I owed some money and my credit score was bad. I wanted to buy a house so someone suggested I call all the creditors and offer a settlement. Everyone took less than %50 of the total owed. Someone took about %30 of the original amount. Within 4 months my credit(FICO SCORE) had gone up almost 200 points. I am happy to say that I now own my own home(well, not completley because I am still paying my mortgage company), but you know what I mean.

[@adamex2]

This was prob from paying the og creditor. Paying off a debt with a true Collection Agency (whatever the amount) won't raise your score, unless they remove the item from your reports. Vantage, FICO, or any other scoring methods... it doesn't matter. In most cases, they won't delete the item, even when they say they will, in writing. So, you might as well pay for credit repair, which does work. I use one, and they're rockin' it, getting collections off my report. I'd rather pay them and have my score actually get better, than pay off a Coll Agency, just to have the ding stay on my report for 7 MORE years from the date I pay them.

[@juliannasettee7362]

Thank you Mr Andy, the credit repair trustee at Andy Hacks, LLC. I can now boast of (805) FICO score, I APPRECIATE

[@troizkatzenberg7308]

Well damn.

[@pablodasilvajr8688]

They are reachable at andyhackscreditfix. Org

[@barrywillian8290]

Andy Hacks rephrased the stricture of my life with their Credit Repair Services

[@jillfeatherman5523]

SCAMMER

[@Louielansky]

@@jillfeatherman5523 thats right stay on their ass Jill I hate these pieces of shit with a passion!

[@RoyalNykki]

This is so true. I didnt admit to 2 debts and they had to write it off my credit report, which increased my FICO score.

[@sydneyelizabeth6265]

What do you mean?

[@sydneyelizabeth6265]

Can you explain your situation?

[@LadiiJustus]

SydneyStyled what don't you understand? There were 2 debts that she didn't admit to having and therefore it either fell off after 7 years or she disputed it with the credit bureaus and research was done by the bureaus in which she does not have an account with the debt collection agency and therefore found that she technically doesn't owe the debt. As far as Mr. Reasonable thinker, nice trolling.

[@RoyalNykki]

What is bogus? I disputed 2 credit agencies that showed up on my report and Equifax, TransUnion and Expedia wiped them off and raised my credit from 580 to over 650. I applied for a 6 thousand dolllar loan and was approved. Its simple. What the Heck is so hard about this? I read and study. You should try it too. People ask me to clean their credit up for $150 all the time. I just do it for myself/personal gain. I have been keeping my own credit clean for years. It is not rocket science if you study how to get it done. Pay your bills on time and if something slips up, research how to rectify the situation in a way to keep your money in your pocket. If you don't know me, please don't come for me..Everyone who knows me personally knows I do this with skill..lol. Subscribe to my page and thanks! I have great lists of legit online jobs...Have a great day haters❤😝😋😍

[@RoyalNykki]

SydneyStyled Yes, I explained it below. I'm really good at cleaning credit. Its easy because I have been studying it for years. I tried it for the first time in 2016and to my surprise it worked. I only do it for myself. If you study, you can clean your own credit for free. But the thing is to keep it clean after you clean it. A lot of people clean their credit then pay bills late or don't pay bills at all then their FICO scores go right back down. Waste of time.

[@PlanetBlake]

You don't need to pay collection agencies, and you also don't need to pay any credit restoration agencies. Just do your own research on state and federal consumer rights. It's really not hard at all. Collection agencies take advantage of the unknowledgeable consumers and use fear tactics to try to get you to pay them money that you don't need to pay. They threaten to call your work, your family, your friends, and some even make threats to have you arrested ( which is illegal for them to do). You also have the legal right to demand that creditors/collection agents "cease & desist" from contacting you, and they have to obey or they can face fines. You have to write them a "cease & desist" letter, and make sure you send it certified mail so that you have proof they accepted delivery. Do not acknowledge in the letter that you are the person they seek or that you owe them any money. Just order them to cease & desist contacting you regarding the "alleged" debt that they calm that the person they are naming owns...etc. You also have to understand that it's rare that collection agencies would ever go through the time and expense to get a court debt judgement on your debt anyway. It's just not worth it to them considering that they only paid pennies on the dollar to acquire your debt anyway. For them it's all a crap-shoot... They can buy up say... 100 debts, each at mere fraction of their original value, and if they can trick, bully or scare even 30% of those 100 people into actually agreeing to pay them the full original value of the debt, then it could make up for the other debts they won't collect on. And some of these of credit restoration agencies are garbage too, and just as bad as the collection agents, because they take advantage of the situation too. You don't need them, you just need your own will and determination to educate yourself on your rights and how to deal with debts on your own. Remember that there are laws governing the tactics the collections agents can use in order to collect debts. Many collection agencies predatory and scam agencies too, and don't follow the rules. If you know the rules, and you find that they have violated them, the agencies can face fines and law suites, and that can even put money in your pocket.

[@Mike9798999]

100% agreed with this comment

[@PlanetBlake]

Mike9798999: Yes, educating one's self is the best weapon a consumer has to dealing with debt.

[@PlanetBlake]

​@Glow Ajanel : I am sorry to hear about your troubles. A lot of us have been there too. I am no expert or lawyer, just average guy who went through many years of battle with debt, creditors, collection agencies..etc, so take my words/advise with that in mind. Other might be able to offer you similar or better insight on their experience with debt... That said, the first thing you must know, or find out, is whether MIDLAND actually "OWNS" your Credit One debt now, or are they just working on behalf of CREDIT ONE to help collect your debt. This is an important distinction. If you are not sure, you should call CREDIT ONE and ask them directly if they "SOLD" your debt to "MIDLAND". If you did not do that before you sent those "Goodwill" letters to MIDLAND, then that could add to your problem.

[@PlanetBlake]

​@Glow Ajanel : Sorry in advance for the long responses.. I once I started writing I could not stop.. lol Ok. Well, that is the toughest position you can be in then. Creditors don't usually delete Charge-Offs - not even if you pay the full amount of money to them or the collection agent. And since the original creditors now don't legally own the debt, they can't accept payment from you. And paying the collection agent is mostly pointless too, in that even if you pay them, they could still do their own reporting on your credit report. I have dealt with a lot of shady collection agents, and I have also dealt with some legit ones, but even the legit ones are usually strict about reporting your negative history. And the collection agencies don't even have the authority to remove a Charge-Off posted by the original creditor. The best thing you can do in most cases is just be fierce in disputing things through the Credit Bureaus. I used to challenge the legitimacy of the debt. "Not Mine", "Balance Wrong"...etc.. Even though I know the debt is mine, I force the collection agent to prove it. Force them to produce the original documentation/contract when you took out the loan or credit card. If they can't prove/verify the debt in the timely manner ( 30 days in most case I believe ), then the Credit Bureau will delete it from your credit file on their own. This strategy tends to be much more effective against collection agencies rather than creditors. Take them out of the "offensive mode", by putting them on the defensive... Challenge them to produce proof that it's your debt, the exact amounts owed, and even the original documents signed...etc. Many agents can't verify the debt, and many won't go through the trouble of trying - especially the shady ones. If they call just say you don't know what they are talking about, and say that if they think you owe them money then they need to send it in writing. Don't acknowledge ANY of your personal details to them. If they ask you to verify your address so they can send you documents, just tell them you don't give out your personal information on the phone...etc. Tell them if they think they have a legit debt they should know the address already etc...You have to frustrate them, and show them that you are know your rights and your aren't going to be bullied...etc. Educate yourself on what times of day they can legally call you. You can also send out a Cease & Desist letter to those agencies. This is a letter ordering them to not contact you anymore about the debt. Legally the must obey Cease & Desist letters. Make sure it's sent by certified mail so they can't deny getting it. If they violate it, they can face fines of like $1000+ dollars per offense if I recall correctly. Legally they always have the right to contact at least once via the mail to demand payment though. Many of them give eventually. You just have to have a endurance for a war of attrition if needs be. Even if you were to pay the amount that was Charged-Off, the Charge-Off will remain on your Credit Report for 7 years from the date it was Charged-Off, unless the original creditor is reporting inaccurate information, or information that they can not provide prove to the credit bureaus. At best, if you had paid the debt before it actually got sold to the collection agent, the creditor would have just tweaked the "CHARGE-OFF" reporting a bit to then read as, ”PAID, AFTER CHARGE-OFF" - which really won't help your actual credit score, but may be slightly helpful in the eyes of a NEW creditor reviewing your credit history in more detail. But that is only when the original creditor is still the legal owner of the debt.

[@PlanetBlake]

@Glow Ajanel : As for Midland "suing you".... Did they just threaten to "sue", or have you actually gotten some kind of documents from a court in your justification ? It very uncommon for even the original creditors to sue people, let alone a collection agencies who bought the debt for pennies on the dollar. I am leery at giving you specific advise on this since, #1 ) I am no expert or lawyer, and #2) I don't know the specifics or your particular case... Ex:. Amount of debt, payments made, payments made after charge-off, exact nature of the words used in your contact with the collection agent, the exact wording of their letters, any official court documents...etc. Any and all these things can affect how one might proceed... You also have to examine the possible worst case scenarios in cases like this... If they will legitimately try to sue you, even if they got court judgement ( which some shady creditors/agents might do on the down-low )... worst case is that you might not only have the Charge-Off on your credit report, you will still have the collection agent reporting the debt separately on your credit report, you might end up with a public record court judgement on your credit report, and given a successful court judgement the collection agent might have the local Marshal office issue a garnishment order on your bank accounts and payroll at work.... So, it could turn out to be a bigger ball of muck than you want... You have to balance out the possible risk, to the possible rewards...etc. Fighting debt is not only a matter of educating yourself as a consumer so you know what they are and aren't legally able to do to you, but also can be a matter of trial & error for each individual. It is also matter of how much you as a person are able to tolerate emotionally and logistics wise. How much you are able to tolerate collection calls, how much are you are able to tolerate collection notes, and how long you are willing to wait them out....etc. I will tell you from my experience that after some time I just became numb to all their threats and posturing. I became numb to it in part because I started to see the patterns they use, and I became more and more comfortable in knowing how much or how little I needed to address each. How much or how little they could do to me. ...etc. In the vast majority of cases for me, waiting them out proved successful and a lot less painful than I figured it would be. My credit was already trashed by the whole thing at the time, so killing myself to payoff all the debts ( especially to shady collection agencies ) even though it won't help remove the worst stuff on my report, just didn't make sense. Companies only have so long to legally collect debts - I think in some states it's like 6 years.. Most collection agents give up a lot sooner than that because they bought the debt for pennies on the dollar in the first place, and so chasing the hardest cases isn't cost effective since there are plenty of less knowledgeable consumer out there whom they intimidate into paying.

[@Bulldog75stp]

Why was this video recommended to me? KZbin's calling me out or something lol.

[@LashayneHampton]

Jason Barefoot 😂😂😂😂

[@missUMommanBro]

New too?!

[@elisaDiane]

The FBI is

[@NinaSharee]

KZbin knows what you did last summer

[@bbigrocker1]

@Jason Barefoot YEAH, You're busted Jason! ROFLMAO!

[@papatutti59]

I never answer my phone if I don’t know who’s calling. If it’s important, they will leave a message. If no messages is left, I block that number.

[@randyparsons3188]

That's the big surprise to a lot of people, that paying it off doesn't really help your score much if at all. The strange thing is you are morally obligated to pay someone, but are you obligated to pay the party that buys your debt? Keep in mind that the original lender now has absolutely nothing to do with you. They don't know or care if you pay it. Also most lending is predatory lending with a lot of hidden fine print and crazy high interest rates.

[@J_Trask]

That is a ridiculous thing you’re saying here. If you borrow money, it’s your obligation to pay it back. It is your responsibility to understand the contract you are getting into. You make it sound like people shouldn’t be responsible for their actions. I do agree with an earlier comment saying this is basic usury. This video is basically telling you to dodge collection agencies, and that they won’t be able to make you pay your debts, since your credit has already been damaged since you are already in collections. If you take out a loan to buy a car, don’t pay the loan, and the debt is sold to a collections agency, which you avoid because you think you don’t owe the collection agency by some sort of moral loophole created by lack of intelligence, that’s STEALING.

[@randyparsons3188]

stealing from who? the new debt owner? How can debt be bought and sold? To see how crazy this is, imagine owing your brother $1000 dollars, then he says, well you didn't pay me so I sold your debt to a stranger, he's going to try to collect from you. He gave your brother $500. How does this make any sense at all? If I pay off the new guy, my brother is still out 500. I do have a moral obligation to pay my bro, but none at all to the new guy. Also many credit cards have very slimy load shark practices, so yeah, I will play their game, just like they play desperate people and poor people.

[@terryw5500]

I actually negotiated my debt myself. I told the agencies that they need to write me a letter and say i paud in full and that they would remove from my credit report. So if something was 1000 i paid 200 they put paid in full and took off my credit report and i bought my house i was in major debt..but cleaned it up. All the conpany u hired is gonna do the same thing

[@tw2667]

Terry W YOURE RIGHT. What I recommend is writing a letter to the collection agencies first, ALWAYS get it in writing for easy proof. Ask to settle the debt first for 30% of what you owe. Normally, they will counteract the offer with 80%. Then you joe ally settle for around 40-50. They must have in writing that they will remove the debt from your credit once paid, or they can sued as well.

[@terryw5500]

@@tw2667 yup stuff i owed 1000 i paid 140....i fixed my credit all by myself.

[@roxie9487]

Can you help me with this. I had ask the same thing and they said they cannot help me with credit and cannot remove it. That I had to talk to the original loan company.

[@tw2667]

Rxie C they absolutely can. They just do not want to

[@phoenixrising4576]

Are you talking about debts that went into collections? What do you do when you have a lot of credit card debt??

[@cidsapient7154]

take the word of someone who did what this guy said but is also a currency trader who has studied economies extensively dont use the credit system unless ur going to make money off of it, ie quick ROI

[@yolandas.6193]

Great Advice.

[@cidsapient7154]

lloɹʇ

[@STAXONDECK1]

Airy Angels don't comment on this racist guys comments sis he's Alt-Lice

[@alexwolf6263]

If you want a house, car or large loan, and you have unpaid collections, it's not gonna happen.

[@TechTrek20]

Alex Wolf so what should we do ? Paid ?

[@taylorwyatt3889]

Visit _Forbeshacks. Xyz_ They can help you clear your collections and give you a good credit score.

[@19822cowboys]

I never pay shit....

[@OceanGangDboii]

Lmao

[@masterroshi2514]

Cowboy 😂

[@darealshmk19]

🤣😂😂

[@MHupdates]

😂😂😂😂😂

[@letmetellyoumyexperiencesi9775]

😂😂👌🏽

[@KM-vm5gp]

Everything you said makes so much sense glad you're educating us♡♡♡

[@KM-vm5gp]

KEEPING IT REAL WITH CREDIT I subscribed halfway through your video lol

[@Excuse_The_Hebrew]

Katrina Mann ikr

[@1990325is]

lmao. 99% of the people who watched this video have a credit score of less than 301 and still trying to find ways to lower it.

[@johnm5263]

This is so much BS. BECAUSE It says in the fine print THEY ARE ALLOWED BY LAW TO SELL THE DEPT TO THERE 3 PARTY WHEN U SIGH IT SAYS IF YOU DONT PAY WILL SELL IT TO BBC YOUR LIVING IN A DREAM WORLD NEO BECAUSE YOUR SS NUMBER IS LINKED TO THE ACCOUNT

[@QueenJooseLaMonica]

He is tellin the TRUTH!! DONT DO IT! Even my loan officer when i was buyin my home told me not to or it would mess up me gettin my house. Cuz she said when ur debtz "fall off" it startz over like u have no credit. Some itemz will still be on it, but dont pay em. Been n my home 7 yearz now and my credit is great!

[@heyheyhey3717]

40mbooh how long did it take for your credit score to raise

[@mstscholes]

40mbooh no he isn't ...we cleaned up our credit and paid out $5000 with of debt a couple months later our credit was where it needed to be to buy our house @ 645...

[@laneyd5519]

Thanks for the advice I never pay them anything as a result my credit needs work but my was not as bad as I thought.

[@greyghost3109]

Don Harris LOL yea your outlook is great though...smh

[@gking8787]

@40mbooh, i would love some advice, if you're not supposed to pay them, how does one clean up their credit report and raise the score?