collections: The Low Down On Collections
- 05/03/07 05:25 AM
About 65% of the questions I receive from brokers are about collections-a staggering percentage. Most of the questions relate specifically to how they can best handle a derogatory item or "trade line that is bringing down a credit score - killing the deal. That's why it is so important for you to know the best ways handle the problem quickly. It's critical that you know the truth from the myths because the obvious solutions may very well be the wrong ones. Here's a quick lesson: Surprisingly enough, it's not always right to advise a client to pay a recent collection. Paying … (5 comments)
My blog is intended to educate and assist other professionals as well as potential clients with understanding some of the lending industries terms, processes and key aspects in order to enable all to make more informed and better suited decisions.
About 65% of the questions I receive from brokers are about collections-a staggering percentage. Most of the questions relate specifically to how they can best handle a derogatory item or "trade line that is bringing down a credit score - killing the deal. That's why it is so important for you to know the best ways handle the problem quickly. It's critical that you know the truth from the myths because the obvious solutions may very well be the wrong ones.
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