c/credit-advice

Showerthought: Should you pay off collections or just wait for them to fall off?

Ngl, I had a $1,200 medical bill go to collections after a surgery in 2021. I had the cash to settle it for like $700, but my buddy said dont bother, it drops off in 5 years anyways. So I sat on it. Now my credit score is stuck at 640 and I cant get a decent rate on a car loan. Did I mess up by not paying? Or is it smarter to just let old debts expire if you dont need credit right away? What did you guys pick?

2 comments

piperbailey•1d ago

That week I paid off $4,700 in credit card debt felt weirdly quiet

No celebration, no confetti, just me staring at a zero balance on a Tuesday afternoon and wondering why I didn't feel as excited as I thought I would.

2 comments

quinna89•4d ago

Found a way to boost my score by 48 points in 60 days

I tried disputing an old medical bill on my credit report and it actually worked after 3 attempts. Has anyone else had luck getting negative items removed with a simple dispute letter?

2 comments

robin591•5d ago

Maxed out a 0% balance transfer card six months ago and now I'm watching the interest clock tick

I opened a Citi Simplicity card with 21 months no interest to move $4,200 from an old card, but after a car repair and a pet emergency I've only paid down $600, and the thought of that 18.99% APR kicking in next year is making me rethink whether I should just bite the bullet and take a personal loan instead - anyone else been burned by the balance transfer trap?

c/credit-advice

Showerthought: Should you pay off collections or just wait for them to fall off?

That week I paid off $4,700 in credit card debt felt weirdly quiet

Found a way to boost my score by 48 points in 60 days

Maxed out a 0% balance transfer card six months ago and now I'm watching the interest clock tick

My credit score dropped 40 points after paying off my car loan early...

My neighbor said credit scores are fake and I nearly lost it

Just realized too many people focus on credit utilization instead of payment history

The week I put my credit score on hold for a stupid $30 late fee

Is paying off a collection account worse for your score than leaving it alone?

My brother said I was 'credit stacking' wrong... now I'm rethinking everything

Hit 760 credit score today and it felt like a glitch

Had to choose between a secured card and a credit builder loan

Hit 760 credit score and still got denied for a $5k card at Capital One in Nashville last Tuesday

My Discover card got declined at a gas station in Akron last week and it scared me straight

Hit 750 credit score but had to fight a collections error to get there

Why nobody talks about the secured card method for rebuilding credit

That $30 credit monitoring service I laughed at actually saved me

Finally cracked 700 after two years of digging out of debt

Signed up for a credit monitoring service that charged me $35 a month for stuff Credit Karma gives for free

Balance transfer cards vs personal loans - one is way better for your credit score

Used to think credit card utilization didn't matter much

Just hit 750 on my credit score and honestly didn't think it was possible

Hit 800 credit score last week... didn't think it would feel this big

TIL paying the minimum on my card was costing me $400 a year

Opened a store card at Best Buy 3 years ago and it still haunts my credit