Can a $79 collection ruin my credit?
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I just got a call from a collection agency, trying to collect a small $89 cable bill I wasn’t aware off. They threatened that unless I pay they will report it to the credit bureaus and that will ruin my credit.
Can they really do that? Can my credit take a beating because of such a small debt? It’s so unfair!
Can they do what?
What do you mean by ‘can they do this’?Can they report this collection to the credit bureaus? – Sure they can…
Will this ruin your credit? – Most likely not…While it’s true that previous versions of FICO considered a small collection account as a negative, now days most lenders have switched to the more advanced FICO 8 that treat small collection accounts of $100 or less as nuisance.
Never the less, you should pay off your debt. Here’s why.
I also recommend you to read this before paying a cent to the collection agency.
Good luck
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