Tuesday, August 11, 2015

Jamie Lee Chafin Village Bank Mortgage - Do you have collections on your report? Here's something that might surprise you.

Many consumers think that paying off collections will help increase their credit scores. In reality paying off collections will almost always decrease the credit scores because of the negative rating that is attached to most collection items combined with updating the Date of Last Activity makes it appear to the credit scoring algorithm that a new collection has been added to the credit report.


Thanks to my friend Sam Parker for this video. 

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