| Collection accounts on my credit report are usually as | | | | will considered valid. A lot of people are unaware of |
| a result of one creditor selling the account to a third | | | | this and miss this great opportunity to deal with these |
| party debt collector. They would "charge-off" the debt | | | | creditors properly in the beginning. |
| on their part so they can receive the tax benefit and | | | | Even if you don't validate the debt within the first thirty |
| then sell the account to another collector for a steep | | | | days, this does not stop you from disputing the entry |
| discount. | | | | with the credit bureaus. The collector will still have to |
| This is usually the reason that a lot of people see the | | | | furnish proof to the bureaus of the account being valid. |
| account on their credit report but cannot recognize the | | | | Some people want to simply get the whole process |
| name of the business. It will usually list the party that | | | | behind them and not deal with it altogether so they |
| has purchased the debt. The first step when dealing | | | | would decide to settle the debt with the collection |
| with third party collection accounts would be the | | | | agency which is also another option. You can take this |
| validation process. | | | | approach to dealing with collectors but remember that |
| This is when the company will usually send a letter in | | | | this will not remove the account from your credit |
| the mail letting you know that you now owe them the | | | | report so I would also suggest that if you decide to |
| debt instead of the original creditor. This is your | | | | settle the account, request that the collection agency |
| opportunity to dispute the information if you do not | | | | have it deleted as terms of the settlement. |
| agree with anything contained in this letter. But the key | | | | Also consider using the services of a credit repair law |
| is that you only have thirty days to do this or the debt | | | | firm. |