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

2 Comments

the_jake1d ago

Watched my neighbor fight a $500 utility collections for three years then they just forgave it somehow.

jessica1301d ago

Did they just randomly decide to forget about it or what?