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

LeBron posts latest triple-double, Lakers rally past Bulls

Dec 12, 2019

CHICAGO — LeBron James had 30 points, 11 assists and 10 rebounds for his third consecutive triple-double, and the Los Angeles Lakers rallied to beat the Chicago Bulls 118-112 on Tuesday night for their sixth straight victory. Los Angeles trailed by 19 before shutting down Chicago in the fourth quarter during the finale of a three-game trip. While James turned in another brilliant performance, he was on the bench for most of a 16-0 run to begin the final period. Kyle Kuzma, Quinn Cook and Dwight Howard sparked the Lakers' comeback. Kuzma scored 11 of his 15 points in the...

Antetokounmpo leads Bucks past Timberwolves 134-106

Dec 12, 2019

MINNEAPOLIS — The start to the game was unusual. Giannis Antetokounmpo's final stat line was not. After waiting out a long delay, Antetokounmpo had 34 points and 15 rebounds as the Milwaukee Bucks beat the Minnesota Timberwolves 134-106 on Monday night. Antetokounmpo, the reigning NBA MVP, has posted a double-double in all seven games this season. "Once you go out there, you have a mindset that you're going to play a game, you're going to go hard," Antetokounmpo said. "Once you cannot go hard, you've got to almost switch mindsets." The game was delayed 50 minutes so one of the...

Predators score 5 in second, beat Red Wings 6-1

Dec 12, 2019

DETROIT — Matt Duchene figured the Nashville Predators deserved better after scoring just once in a loss to the New York Rangers over the weekend. He had few complaints two nights later. Duchene scored two of Nashville's five second-period goals, and the Predators easily dispatched the Detroit Red Wings 6-1 on Monday night. One of Duchene's goals came when he flung the puck from along the boards near the blue line. It deflected in off the stick of Red Wings defenseman Madison Bowey. "I thought Saturday we did a lot of good things and probably should have scored that many...

Kane scores in overtime, Blackhawks beat Ducks 3-2

Dec 12, 2019

ANAHEIM, Calif. — Patrick Kane scored 24 second into overtime off a pass from Jonathan Toews and the Chicago Blackhawks beat the Anaheim Ducks 3-2 Sunday night. Rookie Adam Boqvist scored his first career NHL goal and Alex DeBrincat scored on a two-man advantage as the Blackhawks spoiled the 1,000th career game of Ducks center Ryan Getzlaf. Sam Steel and Nick Ritchie scored for Anaheim. Ryan Miller had 34 saves. Toews, stopped in traffic shortly after overtime began, spun around and slipped a cross-ice pass to Kane, who lifted the puck over the shoulder of Miller for the winner. Blackhawks...

Anthony Davis, LeBron James lead Lakers past Spurs

Dec 12, 2019

SAN ANTONIO — Anthony Davis had 25 points and 11 rebounds, LeBron James added 21 points, 13 assists and 11 rebounds and the Los Angeles Lakers held off the San Antonio Spurs 103-96 on Sunday night. James also had a triple-double Friday night in an overtime victory in Dallas. Dwight Howard had 14 points and 13 rebounds in a throw-back performance to help the Lakers improve to 5-1. Dejounte Murray had 18 points and 11 rebounds for the Spurs, Rudy Gay added 16 points off the bench, and DeMar DeRozan had 14. They lost for the second time in three...

Get your 24-hour live updates here in Ultimate Sports Daily. We deliver content from all regions so that you won’t miss out on any single event.

Contact us: sales[at]ultimatesportsdaily.com