What do I do if a collection agency or creditor contacts me in regards to new debt that is currently not reporting on my credit reports?
You should either negotiate to settle the account for less than what it is worth, set up a payment arrangement, or pay the debt off with a lump sum payment. Your ultimate goal is to have this account satisfied before the collection agency or creditor attempts to report the negative item to the credit bureaus. Remember, you are trying to avoid additional negative items getting on your credit reports.
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