Comments on: When Paying Your Bills Can Hurt Your Credit http://allfinancialmatters.com/2006/04/14/when-paying-your-bills-can-hurt-your-credit/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 20 Nov 2009 19:56:44 -0800 http://wordpress.org/?v=abc hourly 1 By: fivecentnickel.com http://allfinancialmatters.com/2006/04/14/when-paying-your-bills-can-hurt-your-credit/comment-page-1/#comment-2932 fivecentnickel.com Mon, 17 Apr 2006 01:46:39 +0000 http://allthingsfinancialblog.com/2006/04/14/when-paying-your-bills-can-hurt-your-credit/#comment-2932 <strong>Weekly Roundup - 04/14/06</strong> Once again, I’ve managed to let my Friday roundup to slip until Sunday, but here it is just the same… A ragtag bunch of eye-catching articles from across the MoneyBlogNetwork and beyond… FMF at FreeMoneyFinance advises us to save mo... Weekly Roundup – 04/14/06

Once again, I’ve managed to let my Friday roundup to slip until Sunday, but here it is just the same… A ragtag bunch of eye-catching articles from across the MoneyBlogNetwork and beyond…

FMF at FreeMoneyFinance advises us to save mo…

]]> By: cellardoor http://allfinancialmatters.com/2006/04/14/when-paying-your-bills-can-hurt-your-credit/comment-page-1/#comment-2925 cellardoor Sun, 16 Apr 2006 17:01:11 +0000 http://allthingsfinancialblog.com/2006/04/14/when-paying-your-bills-can-hurt-your-credit/#comment-2925 From the article: "In the end, you may decide that trying to pay off your old accounts isn't worth the hassle -- or you may decide just the opposite. You may decide the ethical obligation to pay what you owe outweighs any short-term concerns you have about your credit." I think the preferred, ethical choice is to contact the original creditor and offer to pay off the debt, in exchange for their agreeing to delete it from your report whenever possible -- much of the unfairness for debtors results from unsavory promises made by collectors that end up unfulfilled, even after promised payments are made... From the article:

“In the end, you may decide that trying to pay off your old accounts isn’t worth the hassle — or you may decide just the opposite. You may decide the ethical obligation to pay what you owe outweighs any short-term concerns you have about your credit.”

I think the preferred, ethical choice is to contact the original creditor and offer to pay off the debt, in exchange for their agreeing to delete it from your report whenever possible — much of the unfairness for debtors results from unsavory promises made by collectors that end up unfulfilled, even after promised payments are made…

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