Hey Guys, this is Kevin with Family Credit Repair, and today we’re going to talk about paying off collection debts.

When a bill slip through your fingers that goes unnoticed and unpaid, you’re going to what to get it settled as soon as possible.

Note, it’s a derogatory mark on your credit no matter how much you pay, so if it gets to this point, you might as well try to save yourself some money and negotiating a lower amount paid.

But make sure that the company contacting you actually owns the debt and will provide proof once the debt is settled.

Also, once the debt is settled, you can always request to get it removed from your credit file. Now they won’t always do this, but it never hurts to ask.

Every state has a different statute of limitation when it comes to collecting debts that ranges from 3 – 10 year. After that it’s considered a non-collectable debt and you’d be paying it voluntarily.