Credit Repair Expert Shares Insight Regarding Collection Agencies

December 03, 2019 - /PressAdvantage/ - CA based Poser Tubes Credit Repair - San Francisco recently published a new blog post exploring whether paying off collections can help improve credit score. The company states that it is possible to improve credit scores this way, but there are certain methods that can be utilized to maximize the benefits a person receives from doing so. They hope that their advice can set people on the right path to resetting the clock on their credit history. Learn more here: http://www.posertubes.com/credit-repair-san-francisco-ca/.

As Poser Tubes notes in their blog post, “Credit is an important factor in maintaining your financial stability. In fact, bad credit can break deals you want to make, from big purchases to relatively minor things like getting a new credit card. Your payment history primarily decides your credit rating, and it can be tricky to maintain a positive score. One factor that can have a large impact on your credit file is collections.”

As many are probably aware, falling behind on a few payments can often be remedied by investing only a little effort. However, consistently missing payments for an extended period may lead to the account in question being handed over to collections agencies, and this will inevitably have a negative impact on the associated credit report. Given that much more effort needs to be expended in order to reduce the harm already done to the owner’s credit score, the company strongly advises credit card holders from letting their payments fall so far behind.

However, Poser Tubes also acknowledges that a multitude of factors outside a person’s control may lead to their credit score being damaged in this manner, so they are keen to share information to help people get out of such situations. To this end, their post begins by outlining the problem at hand.

“Debt-collection agencies (not credit repair specialists) specialize in collecting debts from customers where the original creditors have failed to get arrears on an account paid within a satisfactory period,” says the company, adding that this is accomplished in two ways. They continue, “The original creditor, that is the company you originally owed the money to and took out the loan with, sells or assigns your debt to a collections agency. Companies usually turn people over to bill collectors if the amount you are paying them is not enough, or if you miss payments repeatedly. When you take out the original loan with the creditor, there is a clause permitting them to go to collections should you default.”

This allows the original creditors to recoup some of their losses. While it may seem more profitable for them to hold out and try to obtain the full amount from the borrower, these situations are often considered unlikely to be resolved in the creditor’s favor. As a result, they consider it more tenable to instantly take back some of their losses and write off the rest. Since this means the debt has been sold, the collections agency that purchased it has a strong incentive to collect the rest of the amount owed, especially since that is how they make their profit off the transaction.

“In the second option, the creditor still owns the debt, but they contact you using a collection agency. The agency retains a percentage of the money collected,” says Poser Tubes. They clarify that, “The consumer can tell which of these options is being used by consulting the letters received from the debt collection agency. If you are asked to continue paying the original creditor, the debt will likely be owned by them.”

There are a few advantages to be gained if an agency takes over the debt. For instance, this may mean that any associated charges or interest will effectively halt, giving the debt a flat amount that will not grow any larger if they need more time to pay it back. Poser Tubes cautions against making this presumption, however. They say, “It is important to remember that if the original creditor still owns the debt, they may continue to add fees and interest while the collection agency is contacting you. These charges are one of the reasons it is essential to engage with and respond to agencies quickly once they contact you; it could save you money.”

Poser Tubes’ full post, and their other entries, can be freely accessed through the company’s website. More information regarding their credit repair services can be found here as well, as interested parties are welcome to contact Cliff Cooper of Poser Tubes Credit Repair - San Francisco to follow up on any inquiries. Find the company here: https://maps.google.com/maps?cid=12480793397499515439.

###

For more information about Poser Tubes Credit Repair - San Francisco, contact the company here:

Poser Tubes Credit Repair - San Francisco
Cliff Cooper
(415) 599-0890
info@posertubes.com
373 Broadway
San Francisco, CA 94133

ReleaseID: 60032844

Latest News

Streep, Miranda and Stone are named as Met Gala co-0chairs

Dec 9, 2019

NEW YORK — Next year's Met Gala may be the closest we'll ever come to getting a Miranda Priestly moment at the starry event. Meryl Streep has been named as a co-chair of the Metropolitan Museum of Art's Costume Institute. The Oscar-winner played Priestly, a thinly veiled fictional version of Vogue editor Anna Wintour, in the movie "The Devil Wears Prada." Wintour clearly has no hard feelings because she selected Streep as a co-chair along with Lin-Manuel Miranda and fellow Oscar-winner Emma Stone. Designer Nicolas Ghesquiere rounds out the group. The gala's theme is "About Time: Fashion and Duration," which...

Mexico farm town prepares funerals after 9 Americans slain

Dec 9, 2019

LA MORA, Mexico — Under a strong security presence, this remote farming community prepared to hold the first funerals Thursday for some of the nine American women and children killed by drug cartel gunmen. Dozens of high-riding pickups and SUVS, many with U.S. license plates from as far away as North Dakota, bumped across dirt and rock roads over desert, arid grasslands and pine-covered mountains Wednesday as night fell on this community of about 300 people. Many of the residents are dual U.S. and Mexican citizens who consider themselves Mormon but are not affiliated with The Church of Jesus Christ...

Wisconsin Senate to vote on firing agriculture secretary

Dec 9, 2019

MADISON, Wis. — Wisconsin's Republican-controlled Senate prepared Tuesday to fire the state agriculture secretary appointed by Democratic Gov. Tony Evers, the latest in a series of skirmishes between the governor and the GOP that comes as Wisconsin is losing dairy farmers at a record pace. Republicans and Evers have been fighting since before Evers even took office. Republicans convened a lame-duck session to pass laws weakening Evers' power in December. This summer, Evers used his expansive veto to reshape the GOP-passed state budget, resulting in attempts in court and through a constitutional amendment to weaken his veto authority. And on...

Try something new with uncommonly delicious (and ugly) fruit

Dec 9, 2019

As I savor one of my just-picked American persimmons (Diospyros virginiana), I'm reminded how this fruit — and a few other delectable fruits — would never sell. Why not? Because they're ugly! Although the persimmons hung from the branches as handsome, plump, orange orbs up to a few weeks ago, by now they have shriveled and their skins are darkening to brown and black. The texture and flavor have likewise changed. They once were like dried apricots that have been plumped up in water and then dipped in honey with a dash of spice. Now, they've become mushier, with some...

Pentagon releases new details on al-Baghdadi raid

Dec 9, 2019

WASHINGTON — The general who oversaw the U.S. raid on Islamic State leader Abu Bakr al-Baghdadi provided the most detailed account yet of the operation Wednesday and said the U.S. is on alert for possible "retribution attacks" by extremists. Gen. Kenneth "Frank" McKenzie, head of U.S. Central Command, said al-Baghdadi's remains were buried at sea within 24 hours of his death inside an underground tunnel where he fled as special operations soldiers closed in on him. The Pentagon released the first government photos and video clips of the nighttime operation, including one showing Delta Force commandos approaching the walls of...

Syok Asia welcomes the generations to witness the beautiful world of art and creativity in Malaysia and the rest of the world.

Contact us: sales@syokasia.com