Jump to content

Is zero balance good?

Recommended Posts

Hi all,

I am finally getting money to pay off some old debts and I

contacted one of my creditors (FLEET) and talked to them about my

credit report entry....they said that it is being updated to "sold,

zero balance" and the lady couldn't tell me what this means or how

creditors view this.

I then called the collection agency (FIRST SELECT) and made a

settlement with them for less than 1/2 the total.....they are

sending me a "zero balance letter" to send to the CRA's to fix my

account standing.

Is this zero balance thing good, bad or just neutral?



Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.