How Do Collections Affect My Credit?

Collections or charge-offs can be expensive and detrimental to your finances since they’re a continuation of debt owed. They can stay on your credit report for up to 7 years from when your debt first became delinquent and wasn’t brought current. Repairing credit can be tricky since collections negatively affect your credit score for several years past the date of delinquency. 

Debt in collections is among the most severe negative items that can appear on your credit reports since it means the original creditor has written off the debt entirely. Fortunately, you can still have them removed from your account by working with credit repairs companies. We at The Oasis Firm can help you settle your collections through whichever method is convenient for you. 

What Can I Do To Settle My Collections?

If you have a collection account on your credit that’s inaccurate or incomplete, we can help you dispute it with the credit bureaus on your credit report. We can also have it deleted for you to fix your credit. However, if the collection of debt isn’t yours, we’ll help settle it, so you don’t have to pay it in full – or altogether. 

However, paying your collections in full can be beneficial in several ways. It’s always an excellent way to pay collection debts that you owe legitimately. It’ll prevent the debt collector from suing you. But regardless, remember that removing collections or charge-off accounts will take time, depending on your account’s age. 

What We Can Do To Help

Here at The Oasis Firm, we ensure that lenders and credit providers will see that we have taken the necessary actions on your account, such as showing that you’ve paid your debt collections in whole or settled your account. 

With us, you can secure a fast credit fix, settling your collections, and improve your financial standing over time. Let our years of experience and dedication to knowledge empower your financial freedom!

FREE Consultation!

Let our years of experience and passion for education empower your financial freedom