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Author: bingocards Three stars, 500 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311084  
Subject: Re: gone to collection Date: 8/14/2008 10:10 PM
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What AJ said. Its not the end of the world, incidentally. I have one or two (literally -- one should age off this August, not sure whether it is still there) resulting from a miscommunication with my parents in college over who was supposed to take care of a pair of medical bills.

I didn't negotiate PFD (Pay For Delete -- "If I pay this, you strike the tradeline from my credit report") largely because it was clearly not the hospital's fault that they were getting paid four years late (within 24 hours of me pulling my first credit report) and the ding on my credit report is an accurate reflection of my behavior.

Old, paid collections (particularly small ones) have a very, very modest impact on one's credit scores. I'm not sure exactly what my score is at the moment, as I refuse to pay money to see random numbers when I can get my computer to generate them for free, but I suspect it should be north of 700 by now based on where it was when I checked it 2 years ago.

It is, of course, a different story if you have 32 of them, added on a monthly basis, with the most recent 3 having arrived last Thursday.
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