Pop Quiz! Can a collector tell a debtor that paying off a delinquent account will positively affect his credit score? (poll 7779608)

Pop Quiz! Can a collector tell a debtor that paying off a delinquent account will positively affect his credit score?

Sure, because it's true. Paying off debts takes them off the credit report and so it would HAVE to positively affect it.

Maybe -- but you have to be careful as a collector because you don't want to accidentally give bad advice to a consumer.

Nope, you can't. Collectors shouldn't be giving that kind of financial advice to consumers because it's too tricky.

This is a violation of the FCRA and a quick path to a lawsuit.

Other:

Vote View Results

See this poll on: https://poll.fm/7779608/embed

Laurence Wilkinson - 10 years ago

Collectors should never offer advice, suggestions or state anything other than facts regarding the collection of an account and/or company policy relating to such collection. Offering advice and suggestions or anything closely akin to such (as in statements regarding effects upon credit) can invite complaints and lawsuits that may or may not be grounded in law but certainly can result in unnecessary headaches and legal actions against an agency. Specifically with statements about credit scores, no one can state with any degree of certainty how a collection account will or may affect a consumer score because it will depend greatly on the consumer's overall credit history, what other accounts that are in collection or in good standing and a host of other factors.