How you handle a collection account can make a major impact to your credit and home buying journey, so on this week’s episode we cover how to properly pay off a collection account the right way. If you have questions about you credit or collections, be sure to reach out to us or drop your question in the comments.

// SHOW NOTES

00:00 Uh Oh, You Have A Collection!

00:10 Intro

00:32 Real Quick…

00:59 Welcome to The Homeowner Prep Podcast

01:54 Keep An Eye On Your Credit

02:19 A Collection Is Not The End of The World

02:47 First Step Is Communication

03:59 How Collection Accounts Impact Your Credit

04:34 Paid In Full vs. Settled

05:19 Get It In Writing

06:58 Keep Documentation

08:07 Lenders Can Do A Rapid Rescore

09:56 Get Started With Homeowner Prep

10:13 Contact Us on Social Media

10:39 Outro

// IMPORTANT RESOURCES

Get Started With HomeownerPrep:

https://www.homeownerprep.com/start

Get Started with MyFICO:

https://bit.ly/HP-FICO

Build Your Credit Quickly:

https://bit.ly/HPP-Self

Buy Merch, Support The Mission:

https://bit.ly/ShopHPMerch

Subscribe to Our Channel:

https://bit.ly/HomeownerPrepYTSub

// CONNECT WITH US

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Twitter: http://www.twitter.com/Homeowner_Prep

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// ABOUT HOMEOWNER PREP

Homeowner Prep helps aspiring first time homeowners through real-world advice and accountability. This podcast was created for those who dream of owning their first home - and are willing to do whatever it takes to make their dream a reality!

DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that we provide, we may receive a small commission. There is no additional charge to you! Thank you for supporting our channel so we can continue to provide you with great content!

// LICENSE INFO

DRE: 01780767

NMLS: 2218002

#collectionaccount #realestateadvice #homeownership