Is even one small dispute really bad?

[Anonymous]

I am in dispute with a company for an amount of $1,200. They are threatening to report me to

the collection agencies. I really don't want to pay them, because I think they are wrong, and

also nasty. My credit is excellent. I have had many loans and mortgages over the years and I

have never had problems with payments. I know that my credit score is quite high. I really

don't want to pay these people. I offered them a reasonable setlement and they stupidly

turned it down. So what I want to know is, with a long history of excellent credit, will

something like this be a serious blow, or will it just knock my score down a tad, and with an

explanation to whoever is looking to extend me credit, really not be a problem. Or should I

give in to their blackmail? I'm thinking one small report. may not be that big a deal? What do

you think ? Thank you.

[gnosis]

Do they have proof that you owe them? If so what might that proof be? If they don't have proof then you might inform them that any course of action (like marring your credit) that might defame your character is grounds for a lawsuit. Rock steady babe.

[kimber6337]

Have you sent in a formal validation request to the folks?

[Swede]

<blockquote>Originally posted by sae1050

So what I want to know is, with a long history of excellent credit, will something like this be a serious blow

</blockquote>

Yes

[creditmess]

<blockquote>Originally posted by Swede

<blockquote>Originally posted by sae1050

So what I want to know is, with a long history of excellent credit, will something like this be a serious blow

</blockquote>

Yes

</blockquote>

lol...straight to the point lol

[Ravenous Wolf]

It is a serious blow to your credit.

Any unpaid collection is a deal killer for just about any kind of future credit. When I got my auto loan, I was trying to clear up a Texaco card that I had cancelled but Texaco billed me for the annual fee and then put the fee in collections. Even a 70 dollar collection held up my auto loan with my credit union even though I had paid off signature loans with them (never late with payments).

The only thing that got me the auto loan was that I had proof showing that I had closed the account and that I was disputing the collection. But instead of the low interest rate, I had to pay 11 percent. I had to do it because my lease was up and I had to get a bank to assume the residual value of my car immediately. If it weren’t for some fast talking directly to the underwriter, I could have been screwed.

So you will get the chorizo even with a 70 dollar unpaid collection. An unpaid collection over a 1000 dollars will definitely screw you.

[sweetpea]

I agree a collection will drop your beacon score 30-60 points. However Collection are the easy to get off. I recommend that you read this book.

www.budhibbs.com and it's free. He call's the letter to the Collection Agency (The Dead Lettermans File)Thanks to Bud I don't have anymore collections on my credit report. Also have you seen your credit report lately. They may have turned it over to Collections. You can get your report by going to www.experian.com, www.equifax.com and www.transunion.com Experian Equifax and Trans Union now have credit clubs you can see you cedit report and becon score when ever you want. Trust me it's worth it.

________

WENDIE 99

Edited May 12, 2011 by sweetpea

[sweetpea]

<blockquote>Originally posted by Ravenous Wolf

It is a serious blow to your credit.

Any unpaid collection is a deal killer for just about any kind of future credit. When I got my auto loan, I was trying to clear up a Texaco card that I had cancelled but Texaco billed me for the annual fee and then put the fee in collections. Even a 70 dollar collection held up my auto loan with my credit union even though I had paid off signature loans with them (never late with payments).

The only thing that got me the auto loan was that I had proof showing that I had closed the account and that I was disputing the collection. But instead of the low interest rate, I had to pay 11 percent. I had to do it because my lease was up and I had to get a bank to assume the residual value of my car immediately. If it weren?t for some fast talking directly to the underwriter, I could have been screwed.

So you will get the chorizo even with a 70 dollar unpaid collection. An unpaid collection over a 1000 dollars will definitely screw you.

</blockquote>

To get the collection off go to this web site and read the book. It sure worked for me. www.budhibbs.com

________

Classaction Settlements

Edited May 12, 2011 by sweetpea

[kimber6337]

tsk tsk...SweatPea Needs to leave....

[Swede]

<blockquote>Originally posted by sweetpea

I agree a collection will drop your beacon score 30-60 points. However Collection are the easy to get off. I recommend that you read this book.

</blockquote>

In this post http://www.debt-consolidation-credit-repair-service.com/cgi-local/cutecast/cutecast.pl?forum=9&thread=4477 you stated that a collections account is worth 10-30 points, which one is it now??

<blockquote>Originally posted by sweetpea

www.budhibbs.com and it's free. He call's the letter to the Collection Agency (The Dead Lettermans File)Thanks to Bud I don't have anymore collections on my credit report. Also have you seen your credit report lately. They may have turned it over to Collections.

</blockquote>

Really, I think it's enough of this. Are you not understanding that this is someone elses site??