Hello It's me Jazzy Mac
and i'm very happy to talk to you today um as a
follow up to the collections video where many of you have been asking some common
questions about collections and how that process works so
if you don't know how to properly dispute a collection please go back and
watch my video. I talk about step-by-step process i even put the templates down in
the comments or rather in the description box
for those of you that like to physically touch things and have a visual in front
of you please go back and review that i just want to clarify some things from
the video where i tell you that i stopped paying collections in order to
boost my credit score the things i want to clarify are this
number one if you have a debt that has not gone to
collections please pay it nowhere in my video the original one did
i tell you to just not pay any of your debts because guess what not paying your
debts causes things to go to collections collections cause your credit score to
tank so i don't want you to just assume that you should not pay your debts at
all i want you to avoid all of these things going to your credit in the first
place i speak from the perspective in the
video of what to do if you've already experienced a collection being placed on
your credit report i want to clarify that paying a collection
does not boost your credit score getting the account
removed for that collection is what boosts the credit score
now to be clear in some states if an account is removed if not if a
collection account is removed from your credit report you may still be legally
obligated to pay that balance or that account although
it's no longer on your credit although it's been removed again you'd have to
check your state laws in my experience everything that i say is based on
my experience your individual results will vary this is why you still need to
do your own due diligence this is why you don't need to pay credit repair
agencies to help you figure this out when i've had items deleted from my
credit report i was no longer pursued
by any company by the collection company the original creditor
no one pursued me for the day are results typical
will that be your experience i cannot say that i am from alabama i currently
live in georgia i've been doing this for over a decade now in my experience i've
never had to repay a debt once it was deleted
i've even called companies before and said um
this is no longer on my credit report i don't intend to pay you any more
unless you have some sort of legal explanation for why i should and many of
them will say no you don't owe us anything anymore will that be your
experience i don't know because we're different people we live in different
states there are different statue of limitations all of that stuff
so be sure that you are still doing your due diligence and you know that
you know even if something is deleted if you legally owe it if it's still under
the statute of limitations then yeah you probably still have to pay it
um will it be can it be reinserted on your credit
if they can prove that this is a legitimate debt that you owe
where you've signed off on the collection fees where you've
acknowledged that you owe the debt um and there is like no true error that
occurred with the financial balance then yeah it
could be reinserted on your credit has that ever happened to jazzy no
i've gotten literally over 20 collections deleted from my credit
none of them have ever been re inserted the reinsertion thing um
generally is not typical i can't say that much now it may have happened in
like one percent of cases but in general
if something is not validated um by the credit reporting agencies it's it's
generally not gonna just pop back up can you be that unlucky person that that
happens to every once in a while like every 100 000 cases can you be the one
person out of a hundred thousand that it happens to maybe if the debt is
legitimate if it's valid i speak from a perspective about things
being added to my credit as a result of a collection
when they also tack on illegal collection fees
jazzy's not going to pay anything illegal i'm not going to pay anything i
didn't agree to pay so that's the difference there
um so i hope that kind of makes sense um
again a common question that i get all the time is you know the method jazzy
the method that you use do you dispute with the collection agency or do you
dispute with the credit bureau i dispute directly with the credit bureaus
or anything that's currently on my credit if it has not hit your credit yes
you can dispute with a collection agency but i s i am speaking from things
from a perspective of things that are currently on your credit as a collection
so that's the difference um
and then the other question that i often get is can i dispute student loans
the short answer is like in theory like technically you can dispute anything
okay i'll say that you can technically dispute anything however
student loan disputes are a totally different beast than like just disputing
an unpaid utility bill or phone bill or something like that um
i tend to er to like err on the side of like i don't play with uncle sam i'm not
just gonna like start disputing stuff that i know i signed up for because
if you do that i mean it's not like you're going to be placed in jail but
i'm just saying like the chances of the government not being
able to prove that you owe a debt like it's going to be very slim to none
so no my templates are not meant for student loans by any means
in fact many of the times people think that
getting student loans deleted from their account is gonna like some sort of way
boost their credit score and that's just generally not the case
even if your student loans are like deferred like that still technically
helps your credit because it's like a it's a revolving credit account that's
being constantly reported as paid as agreed even if your payments
are deferred they're still being reported as paid as agreed so that's
good positive payment history that is being added to your credit report
every month why would you want to delete that account and then lose the account
history and the age of the accounts as well
it's never like a good thing to do so
leave your student loans alone like unless your school the only exception to
that rule is if your school will close down
like if yours your college is no longer in existence
um or if your institution was found to have miss
um used like financial funds like the
disbursements for financial aid if they were misappropriating funds and trust me
you would have gotten a letter in the mail if this were the case
if that happened to you then you can challenge your student loans but this is
not like via the the credit uh dispute process this would be
challenging the loans with the department of education or with
nail net or with whoever your student loan servicer is
so just understand that like disputing a collection account is
not the same as challenging um
a student loan so don't try to cross those processes because like they're
just totally different um there are tons of colleges right now
that are you know
that biden has like canceled the student loan debt for many colleges um in fact
like my brother went to college here in atlanta that closed down
you know he racked up a ton of student loan debt
and um he's like not responsible for it anymore
um and all he had to do was call the school
and say hey you know i attended you know this college
in 2007 and you know this needs to be forgiven and it was as
simple as that you know and i think maybe they also sent him a letter
um i would say don't just wait on a letter if you want to inquire whether or
not your school is going to cancel debt especially if you know your school has
closed you can either call your student loan servicer you can you know call an
administrator that re represents the school or something
like that or you can just look online to see the
status of it so um i hope that sort of gives you guys
more insight to what i say um
i've been having a lot of like collection companies jump in the
comments of my videos and like they hate me like they just
tell me like how horrible of a person i am and they tell me like how much they
don't like me and how wrong i am and like they even tell me that i don't have
a good credit score and like i literally like i've done videos where i've shown
you my active credit scores like all three of them
so um yeah i just hope this information helps you guys you know you're the
consumers i honestly hope that um
you're able to take what i say as a guide
um to like aid in your own personal research
so i hope this was helpful again if you haven't liked share and subscribe like
what are you doing with your life so
i will talk to you guys later i hope everyone has like a great rest of your
day bye