Paying off a collection closes the balance, but what happens to the damage that was already done to your credit?

The decision to send someone to collections is one that should be given serious consideration. Federal law governs how you and the collection agencies you hire can and cannot attempt to collect a debt ...

If you see an account in collections on your credit report, it's understandable to feel stressed. Collections, even when paid, can potentially lower your credit score and impact your approval odds for ...

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