No, its okay. They send it to a debt collector to collect the money for them, so they don't have to spend time chasing you. It takes ages to get on to your record, and if you have an arrangement in place (as long as you haven't defaulted with the original provider usually) it won't show up. Even then, you usually have to default on your payment plan with the collector a few times before its listed.
If it does get onto your record, once it is paid off you can apply to have it removed.
It shouldn't be. I think it will only appear on your credit rating if the demands from the debt collector are ignored and it goes to court. Going to the debt collector is like the last chance. If it goes to the sherrif and you get served then it will be AFAIK.
If you can work out an agreement with who the bill/installment plan is originally from. Cut out the middle man, the company will be happy because then they don't have to pay the debt collectors. And they lose for being so dumb.
thanks. i went in and saw them - the original creditor - this afternoon and worked out a payment plan. I thought I had already done this but the person who organised it apparently wasnt authorised to, so another person did it today. At least now its in writing and they will ring the collection agency and canel that side of things.
Hey Pandora - it should be fine. I'm not sure how much you had owing, but I've had outstanding video store overdue fees referred to a debt collector before - its just something companies pay other people to do if its been too hard for them to get into contact with you - I'm not sure the process but I takes a long time before it screws your credit history
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