A collection is a tradeline on your credit report, but a negative tradeline! A collection agency reports it (the tradeline) and about 99% of the time is there because you were having trouble paying your bills on time and now the person you’re doing business with hired another company to collect on what you owed. Also, the collection will stay on your credit report about seven and a half years from the date you stopped paying the original creditor and drop your credit score substantially!
Oh btw, Do you want to boost your credit score in the next 90 days, so you can stop wasting money on rent and buy a home or rental property? Then, download our free credit boost guide at www.yfscredit.com/boost or text the word “boost” to 844-703-0379.