Paying off collections debt can be a smart financial move, but it won't make sense in every scenario.
Dealing with credit card debt in collections can feel overwhelming. Whether it's due to financial hardship, unexpected expenses or a moment of oversight, unpaid debts can lead to aggressive collection calls, damage to your credit score and a cloud of financial uncertainty. That's why the conventional wisdom often suggests paying off all debts as quickly as possible to try and limit the repercussions. However, the reality is often more nuanced.
Ignoring valid debt can lead to further financial strain through accruing interest and fees, not to mention ongoing damage to your credit score. Paying it off, though, demonstrates financial responsibility and offers peace of mind, allowing you to move forward with a clean slate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Martin Scorsese Filming Concert Movie This Week Paying Tribute to Robbie RobertsonMartin Scorsese is set to direct a tribute concert movie in L.A. called Life Is A Carnival: A Musical Celebration Of Robbie Robertson.
Read more »
How to build up your bets – and your returns – in dividend-paying stocksYour brokerage firm has a tool that allows you to build positions in dividend payers over time, a move that could boost returns.
Read more »
These dividend-paying stocks could be in the 'early innings' of a rallyWolfe Research says it's time to step back into health-care stocks. CNBC Pro screened for dividend-paying companies with upside potential.
Read more »
Renck: Nuggets need the best of Jamal Murray to win championship, especially after paying himWill Jamal Murray have the motivation at this point in his career to prove critics wrong?
Read more »
New Car Buyers Are Finally Paying Less, But The Last Sub-$20k Model Has VanishedAverage September transaction price was $48,397, down 0.4% versus last year, but Mitsubishi's bargain Mirage has been axed
Read more »
Elon Musk May Be in Serious Trouble for Paying Voters in Swing StatesScience and Technology News and Videos
Read more »