No. of Recommendations: 0
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.
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement