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Ask the Experts

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Q:
What would you suggest I do to make good on this bad debt?

I've worked very hard at cleaning up my debt. I have one debt left to pay that's showing outstanding on my credit report. The last payment I made to the company brought my balance down to $691. The collection agency handling the account is saying I have an additional $200 to pay claiming it's interest. I want to pay what I owe to pay the account in full, but I don’t want to pay these interest charges. What would you suggest I do to make good on this bad debt? -Lee

Lee,

You could try to negotiate. Be sure to request that the account be shown as "paid in full" on your credit bureau file. Don’t forget to get all the details of your agreement in writing. For more information, see the section on settlements.

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Ask The Experts

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