This is the only time that you should ever pay a collection! Let's hop right in
Welcome back to my channel you guys it's me Jazzy Mac. Thank you so much for
tuning in if you are new to my channel please go ahead and kiss the like button and give the
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but it also helps this page to reach all those people that need help with their credit so
be nice like subscribe and share this with someone that really needs it so let's talk about the only
time that i recommend you paying a collection now you guys know in my previous video i tell you not
to pay collections specifically the ones that have illegal collection fees attached to them
reason being paying collections doesn't actually boost your credit score it is the act of getting
that collection deleted which boosts your credit score i shared with you guys about my story about
how i got several collections deleted i went from a 4.95 to an 824 and i didn't have to pay anyone
to do it i did it on my own by simply disputing collections but you may be saying jazzy what do
i do if the collection that i owe does not have illegal collection fees the collection that i
owe has actually been verified the contracts have been sent to me a copy of my what signature has
been sent and the debt is actually legitimate i actually owe it what do i do if it's verified
well we've already previously talked about the pay for delete option right which is where you
and the collection agency would negotiate a settlement amount where they would agree in
writing up front to delete that collection account in exchange for your payment and i always say get
that in writing if you're going to do that as part of my credit kit i've actually included
a list of companies that do pay for delete so sometimes you just you may be a little nervous
to call the company and ask that so i actually put together a very long list of many many companies
that historically are um kind of sympathetic with you know people and they do offer pay for delete
usually for 50 of what the balance is oh sometimes some companies will let you do a pay for delete um
if you pay 30 of the balance that's old so i have that list available in the credit kit but what i
want you guys to think about is if the company does not offer pay for delete your credit score
is not going to go up by paying it now i'm no way saying to evade your debt so we always want to pay
a debt before it goes to collection but what you can do if a company does not offer pay for delete
and the debt is verified it's legitimate it's no extra fees you've got a contract in front of you
there is another method that i have come up with with my attorney friends backing me on it
and it is called drop and stop and you're probably thinking jazzy what in the world is a drop in stop
well drop and stop is a method that is used where let's say that you have a collection account
that is two thousand dollars now you've made a good faith attempt to contact the company
and say hey do you offer pay for delete can you make a pay for a delete if i give you
the money and they've said no to you so you've made the good faith effort and now because
they're being stubborn your credit is hurting you can't get the house that you want it you can't get
the car that you want it your credit is still suffering what do you do well drop and stop is
a method that involves you endorsing a check basically where you would get a cashier's check
not your own personal checkbook because we don't want people having access to your personal
information you would get a cashier's check and if you're the amount that you always two
thousand dollars let's say you want to make a good faith payment in the amount of a thousand dollars
you would get a cashier's check for a thousand dollars you would write your account information
on the front of the check and with the account number you would write very small letters
endorsement of this check constitutes payment in full for this account and
upon cashing this check you agree to delete it from my credit profile now you don't want
to write that stuff in real big letters you want to write it kind of small um because what you're
ultimately hoping is that they'll just be so happy that they got a check in the mail from you that
that they'll just go ahead and cash the check um but this is something that you can legally
do because if they cash it you've already written on there that if you cash the check
this is a it's done it's a legitimate deal you have to go with it so they can't back out of it
and continue to report it on your credit because then that would be breach of contract right and so
at that point you could sue them you know take them to court and that could get that would be a
very easy lawsuit for any attorney to win for you so trust me this is not something that they really
want to play around with so that's the other method if you don't like to hand write things
you can type it um on like label paper the sticky paper that people put like ups labels on you can
use that printer label paper to print that little verbiage out and i also have like the template of
that in the credit kits and you just could take a very small piece you know like like super super
tiny and have it printed on that sticky paper and put it on the back of the check you know
and you send the check to them you get signature confirmation that the check was received and you
make sure that you've made copies of that check the front and the back of it and once you send
it to them if they cash it it has to be deleted from your report so now you've taken something
that you owe two thousand dollars on that they refused to take off of your credit now you've
only paid a thousand dollars and you just wrote yourself a golden ticket to getting it deleted off
of your credit how amazing is that that's easy um it's not something that a lot of people do
because a lot of people just follow the misconception that if i pay my collection
it's gonna get deleted and like we've said in this video a million zillion times like no that
doesn't work that way so this is something that you can do literally go get a cashier's check or
a money order send put the amount you want to make sure it's a good faith amount you don't want to
put a dollar on there make it a good faith amount whatever you're comfortable with paying make sure
it's something that they would actually be kind of excited about so i would aim for maybe at least
50 of my balance if not 25 of my balance is what i would send that good faith payment and so you want
them to cash to check and you know that it'll get cash because you'll probably get you'll see
um where it's been endorsed unless they send it back to you i would give them a full 30 days
if the check has not been sent back i would call them asking i would say has this check been cashed
okay or if you didn't want to call them you could you know the place that you got your money order
from or the cashier's check you can ask them has this check been endorsed has it been cashed yet
so it's as simple as that people i mean it's in the templates you know i've got it down there
for you um the the method that you could use again is pay for delete or what i like to call drop and
stop because you drop the check in the mail and if they cache it they have to stop reporting it
isn't that genius look at your girl hooking you up for 2022 okay so i hope that was helpful for you
if you've ever used that method before please let me know i would love to hear your story
usually you're going to hear something back within 30 days and if you don't
then you want to follow up now i do have some credit all-stars that i want to acknowledge
you guys have used my templates you've listened to everything that i've said and i'm so proud of you
guys these are people that have actually left comments down in the comments box um i'm just
gonna start i'm gonna only go over a few but um miss princess britney said i've never seen
someone on youtube give such credible realistic advice i can vouch for everything she's saying
i did my own research and investigation and this was my exact conclusion i did it
and my score went from 485 to 781. 300 points almost and counting wish i had seen this sooner
okay and so miss nubian girl 217 said i purchased her ebook and was able to raise my credit score
96 points my score has since went up 20 more points i'm headed to the 800s very soon thanks
so much for the real-time information jazzy yes honey yes and miss anne p said i'm back here to
say that everything i disputed got deleted off my report miss anne honey 2022 is your year honey yes
miss nicole g said 30 days ago my score dropped 33 points i sent a dispute letter certified through
the mail i got no response and this month my score increased 33 points i love it i love it i love it
and miss kyani g my sister said seriously you are the best credit your credit guru i've seen
on youtube i'm so happy i found you i've been sending your videos to everyone i know that
needs to boost thank you so much for the videos that keep it simple and the templates are great
let me tell you something my templates work i am a living case study you can read my comments
read the testimonials they work if you don't want to just stop at using a template and you want to
talk to me live we do have the credit academy that is launching february 2022 there is a wait
list so please go ahead and reserve your seat if you intend on getting into it because once
we reach capacity we close the doors the last time i did this about three years ago we reached
capacity within two hours two hours so trust me this is not a course that
i mean it's going to fill up quickly because we already have a wait list so make sure that you
sign up in the comments below for the vip waitlist so you can be notified as soon as the doors open
you don't want to miss this live event there's a private facebook group you can talk to me and ask
me all the questions you want to ask me you'll have unlimited access to me so i hope that was
helpful i hope you enjoyed it i cannot wait to see you guys in the next video and until then bye