– Up guys, it’s Ray
comin’ back to you again with another video regarding credit. And here’s where I keep
it real credit-wise. A little background information on me. I used to work for a
credit restoration company by the name of Buildworth Strategies. They’re located down
here in Miami, Florida. They’ve done great work
and I got to help a tremendous amount of
people in my local area obtain their new homes,
their dream cars, boats, you name it, I’ve been
able to help people a lot. Still to this day I’m
just thankful that I get phone calls and text messages saying just, thank you for helping me out. So this is the purpose of these videos. I wanna continue to provide to you guys tips and information
regarding credit because, at the end of the day,
it is a thing that if you understand it correctly can help you out and obtain your new home, your new car, whatever it is that you’re
tyrin’ to do with your credit. So today’s topic is
gonna be about something that I hold very dear in
my heart, sensitive to, because I’ve seen it hurt a lot of people, a lot of families,
including me in the past when I knew nothing about credit. And that is, specifically, on
paying collection agencies. You should not do it,
I don’t care who told you to do it, do not do it. And in this video I’m
gonna explain to you why. So one of the reasons and why I say do not pay collection agencies is because for one, all they’re tryin’
to do is get your money. And this is exactly how they do it. Let’s say you owe a company,
what’s a common one? Like T-Mobile. Let’s say you fell on hard times, it happened, we’re all human. And after six months
T-Mobile then charges off your account and sells it
off to the highest bidder, which is a collection agency. Key word charge-off. What charge-off means to
the company of T-Mobile is that their finance
department puts charge-off, and when they file taxes
at the end of the year, that’s like a loss to them. So that’s what they have to put down, and they report that to the agencies because it’s what they’re required to do. The highest bidder
collection agency then pays a portion of the total amount owed, pennies on the dollar,
and they obtain that. In turn, they call or
harass you multiple times in multiple ways until
you pay ’em the money. Just to keep things
simple, let’s just say that your bill was a total of $200. ABC Collection Agency
bought that debt from T-Mobile for, let’s say,
$20, because it is a percentage of that whole amount. So they bought that debt for $20, and here goes ABC Collection
Agency going to call you. Here’s what you don’t know. ABC Collection Agency has to
call you on the other end. If you go ahead and pay
$200 when they bought that debt for $20, they made
a huge profit off of you. And this is how collection
agencies stay alive, stay profitable, just doing that. But here’s what you don’t know. In order for a collection
agency to collect from you or go after you legally,
you first have to admit to the debt over the phone or by letter. This is why all their
phone calls are recorded, because with a recorded
line they got you on tape saying you are who you say you are. This is another thing that you don’t know. Legally, you did not sign a contract with ABC Collection Agency. What I mean by that is
you did not get services, telephone services, from
ABC Collection Agency. You got it from T-Mobile. But since T-Mobile sold your account off to ABC Collection Agency, T-Mobile has nothing to do with your account at all whatsoever. So what happens is is that
because you don’t have a signed contract or an
agreement between you and ABC Collection Agency,
that gray area says, well, who says you owe them? What I mean by that is,
unless you admit to the debt over the phone and when they ask you, are you John Smith, and
you say yes over the phone, I am John Smith, then they got you. But if you don’t say
anything, then they can only assume that they got the wrong person, because I’m pretty sure
you’re not the only person in the whole entire world
with your specific name. All right, guys, and
another thing that you guys have to pay attention
to it’s something that’s called the statute of limitations, and this varies from state to state. Basically what that means
is, in the credit world, is statute of limitations is how long of a timeframe does that
collection agency have to go after you legally at full force. After an account here, I think, I believe, depending no what the
account is, is five years. Then after that you’re not
obligated to pay that debt. If you pay attention,
if you’re still getting collection letters to
this day from an old debt that you know you had,
there’s gonna be language on that document that’s gonna say, you’re not obligated to
pay this debt because this has passed the
amount of time allotted by your state, or something
along those lines. Just make sure you look for it. They put it in really small
words because, obviously, they don’t want you to
notice it, but it’s there. If something has passed
more than five years, and now you go ahead and pay it, then that account will
restart for another seven years and remain on your credit report. Because a collection account,
whether it’s paid or not, is still negative, then
it will count negatively against you and by then
it’ll be very hard to remove that account because, in a sense, you’ve kind of admitted guilt towards not paying a bill of some sorts. What I’m tryin’ to say is is
that if you pay a collection account it’s bad, because
it will remain anyways. And if you don’t, it’s bad anyways, it can’t get any worse than that. If you want to spend money
with the intention of removing a negative item
from your credit report, you might as well do
your research and hire a very good, reputable
credit restoration agency. I’ll leave you the link
and the information of the one that I used to work for, which is located here in Miami, Florida, but they have clients
from all over the nation. I don’t work for them
any longer, and again, still do your research
and hire one that’s, benefits you the most. But in a sense, what I’m telling you is, do your research, don’t be so overwhelmed on paying these accounts because it can hurt you in the long run if you do. I’ll put it for an example. If you get a speeding
ticket and you just go ahead and pay for it
with the intentions of, oh, I guess it’ll go away. When you go get car insurance
and they run your record, it’s gonna show that
you were speeding at a such a day, such a time, and
that right there stays for, I believe, in the state of
Florida is like five years. That right there is gonna
raise your insurance rate. The same way with credit. Even though you have a
paid collection account, it’s gonna raise your
interest rates on whatever it is, whatever else
that you’re tryin’ to do. So you might as well go fight it. If the state has nothing to prove to it, then that goes away. That alone right there’s gonna help you save a tremendous amount of money. All right guys, so I’m
only giving you this piece of information
because the end of the year is about to come, Christmas, Thanksgiving, tax season, and you guys are about to get a huge amount of money. And the first thing that
you guys are gonna do, and I’m tired of seeing
it, is that you guys go spend all this money
on collection agencies. At the end of the day, the
items will still remain on your credit report
and still continue to negatively affect you,
holding you back from obtaining your dream home, your dream car, or your dream whatever it may
be that you need credit for. Save your money. Don’t pay a company that
you don’t even know exists. Don’t pay a company that
you’ve never contracted for for any kind of
services at all whatsoever. Don’t be quick to spend
your money on a complete stranger that’s calling you over the phone that their only purpose is to take all your money from you. And they can care less about how you spend your new years, out in the streets, or not being able to feed
your kids or your family. This is something that I hold
very, very near to my heart. I’ve seen it affect a lot of people. It almost affected me. I’ll make another video
regarding my specific story and how I was able to overcome that. I don’t believe in no collection agencies. If you are gonna pay some money, either pay a credit restoration company, do your research on them, and make sure they do the work for you. Again, I’m gonna leave the description to the one that I used to work for. They’ve done great work
and I was able to help a tremendous amount of
people through them. But don’t be so quick to spend your money on collection agencies that’s not gonna help you out in the long run. If you are gonna spend some money, again, do your research on a
credit restoration agency, or if the account is still
with your original creditor, they’re still with that
main company before they send it off, negotiate with
them and pay them directly. Don’t go ahead and pay a company you’ve never heard of before and affecting you way more years ahead of you. All right, guys? If you want me to still
continue to make more videos, I’d be happy to, I like doin’ this, and I’ll still continue to keep it real.


  1. Hey Guys! Thank you so much for watching. And if you would like to talk more regarding your credit Feel free to schedule your free evaluation with me by clicking this link : I look forward to speaking with you soon!

  2. The dumbest advice I have ever heard……anyone telling you not to may your bills run….these con artist are NOT attorneys and will get you in heap of trouble while stealing your money. Here's how to clean your credit…1) Pay your collections accounts, settling for less than full balance. then you can dispute to have it deleted 2) establish positive credit lines. 3) pay your bills on time for the future. Please Please ignore this B.S. When you sign an agreement with the original creditor to honor the debt if its sold.

  3. You are Spot On!!!
    Thanks so much for bringing others to the awareness of these Facts!
    "Keep it ReaL!!! 😁👍 You Rock Ray!

  4. In Arizona.. they make you sign a release form for credit bureau to get a job.. yes, if you have bad credit they count that against you.

  5. I have been seeing people posting Good comments Qiaug +1845-293-3085 I never know his strategy’s good as this,qaung has changed the life of so generating traders today and I pray that he should keep on doing the Good work

  6. Good day everyone!! It so amazing i couldn't believed this until i cash out $40,000 hack transfer from this contact +1845-293-3085 just to start up a new life

  7. Hi guys,

    When I was young I hated credit cards seeing my mom get into issues with it make life hard growing up in Brooklyn NY. until Mr Vlahd vlahdmahrk @ gmail. com opened my eyes with their fabulous service. wish I saw this 18 years ago when I got my first 3 card. It's all good I'm in a good place now and it all thanks to you Vlahd.

    My FICO score is now 817 after all the negative items,hard inquiries, collections on my credit history was deleted, now i got three cards with high limit. I just bought my house last week. Thanks to Mr are a life saver and i really appreciate you! contact him ASAP 567 393 3031…..

  8. I'm guessing if you make a small partial payment to a collector of a medical bill it's still the same as answering the phone 🙁

  9. Wait till they put a judgment on you and sue you take you to court and put a lien on your house or go after you bank account. Then theres nothing you can do but agree to a settlement amount an have to pay back! Best thing to do is reach an agreement with a debt collector and make payments. You cannot ignore it like you are saying to do. If its yours and they want to they will go after you and take legal action to do it and you will lose in court.

  10. Im assuming this doesnt invole the irs though am i correct? Bc i have 5000+ in back taxes to the feds and suprisingly they sent it to collections?…wierd right?…. But they did and i have yet to answer my phone to any number unkown?… So does this apply in my case?

  11. I haven't seen any of your other videos, and I just happened to run across this one while searching for something else.
    It's good that you (or anyone) cares enough to try and educate the unfortunate ones who are ignorant to credit, collections, etc. Be careful, however, in advising people on specific things as it could be considered giving legal advice. As I'm sure you know, only licensed attorneys can give legal advice; anyone else can be charged with unauthorized practice of law (UPL) and penalties can include fines and/or jail time.
    That said, I see that you do have a disclaimer in your notes under the video, so that's a start. Text and/or audio on the video would probably be better though. This is just some friendly advice from someone in the legal field, so no need to take offense to my comment. Again, I think you're doing a good thing in general.

  12. Does the 5 year limit for collections apply to every state?..I tried finding info for the state I live in but couldn't find an actual answer

  13. Good to hear this.
    I owed $12k for something I never agreed to in the 1st place. I'm disabled on disabled income, they knew it, and I also said in the beginning that didn't want this.
    I was sent to collections 6ish years ago. I was called once and said I'm not paying and that's the last I heard from them. My credit is six hundred something and my statute of limitations will come around in December.

  14. Horrible advice. Collection agencies play dirty. What about when the collection agency puts negative marks on your report because your account with them is unpaid? Then they sell the debt after it’s not collected for a year. Then a second collection agency tries to collect. Then they add a negative mark. Then after a year, they sell it to yet another agency and another negative account is jotted down on your report. This goes on for 7 years! So one debt becomes 4 or 5 negative accounts are listed, all from just one debt pushing your score into the toilet.

  15. i was recouping from a car accident. A relative used my credit cards ran up to the limit, maxed all my credit cards. When I was able to check this out. I didn't charge all these cards. Had to file bankruptcy. So now I have T-Mobile after me that I didn't sign for, did not go in store and purchase phone with them. They were not on bankruptcy list The collection company called told them as I disputed with T-mobile. Do not have phone with them. it was fraud on my credit cards I didn't charge these items nor sign for a phone. Also my family member cashed a check for my car for over 15,000.00. Kept the money. Do not have money for a attorney. But for God so good i was introduce to a Russian hacker called GoldenSurvey who magically make payments on my credit cards for me, the payments didn't reverse and he also fixed my credit, raising my credit score from 448 to 811, thanks to Golden Survey, he's a helper and I can't thank him enough, you can contact him [email protected] gmail. com for credit fixing and credit card payment or bank account huge money funding, he's just so professional##

  16. It doesn't restart officially. Infact if you can prove where and when the original debt came from than you can give that info to the CRAs and they will follow the law.

  17. Bad advice. IF the collection agency is aggressive, they can/will garnish your wages and/or levy your personal property. As a mortgage broker for the last 20+yrs. not paying off collections (or better yet, settling for a much lower amount) will hurt you 9/10 times if you're trying to buy or refinance a home. IT shows the underwriter you can't/won't pay your bills-which then doesn't make sense for them to loan you $200K+ to buy a home Pay off the debts for a lower amount if they're not close to 7yr mark. Open some new lines of credit, pay them on time & wait for your score to increase. Fun Fact–>before applying for a home loan, have your card balances @ 8%-10% of your credit line for the most "extra" points added to your FICO score. Up to 30% will still give you some extra points.

  18. Fuck my life dawg I just got a call from one for tuition and I thought he was really trynna help me. So should I act like it’s not me? I ain’t say it’s me but I asked them who is this and I then said ok “I know I ain’t paid but I ain’t got funds now” so I ain’t confirm that I was who they asked but I said it after wards it was a life issue I ran into. Am I fucked bro? Plz reply man I’m dead broke and just my life is ruined man I am not able to do shit.

  19. I work for the federal government. You cannot have collections or any money owed. You can’t get a clearance. You ever heard that?

  20. I followed everything you said on this video and the collection agency ended up reporting it on my credit fml now what. I never talked to them once or let them have contact with me in anyway

  21. Well I’m fucked because I answered and said yes it was me. But never agreed that I was going to pay. What do I do now

  22. Better advice than this dumbass… LISTEN CLEARLY: Do not spend money you do not have! That is the trap of credit debtors. If you only spend money you have you cannot get into debt. PURE LOGIC AND REASON!

  23. Verizon Wireless took me for all they could and my account is with collections and i told collections well Verizon Wireless are not good people and don't recommend them to do business with them and would advise anyone to use Prepaid service but with someone that is cheap . Thanks for your YouTube channel will thumbs up 🙂 Many Blessings Your Way !!! 🙏 😇

  24. So I didnt know none of this. So I screwed up by allowing them to know who I am. My problem is I have a eviction from when I was younger and had the wrong roommates that wasnt on the lease. After it was all said and done got evicted owing $4200 something. One year I checked on a credit site it went to 5,000 and now it's to over $7,000. About two years later I called the collection agency and talked to a woman there. I told her that I dont made a lot of money but I'm willing to made small payments at lease $50-$100 a month I told her I wanted to do the right thing and plus I want to work on it so eventually I could have an apartment again. She refused to take anything from me that wasnt half of the 5,000; plus she was being a smart ass too. I couldnt come up with anything so I left it alone. Then I got a call about 3 years later from a guy about the apartment again and he said that he knew I called and I told him that about what the woman said and he told me she no longer worked there. He was willing to take what ever I could do now. I told him i could see what I could do he said that he would call me in a week or two because he was going on vacation. I didn't answer again but I just thought it was strange it took years to call me again. Then seen on another credit report that I dispute it or something like that. I know i fucked up talking to them but i was desperate and a young single mother couch surfing so my head wasnt thinking like that. Over time I realize it dont matter it was still going to be there. I had 2 different reports that gave me different time it would stop so I dont know what to really do.

  25. Ask them for the signed contract of agreement and if they can’t produce it they’re fucked! The debt has been purchased so it’s not your debt anymore! Tell them to fuck off…lol

  26. Lol you can’t not pay a speeding ticket. If you ignore it they suspend your license. Also many of those tickets have a court date on them, if you ignore it and fail to appear they issue a warrant for your arrest. A speeding ticket is NOT a creditor.

  27. It's all fun and games until 3 or 4 years after you forget about the debt you end up getting sued in claims court and have your wages garnished over collections…pay your bills people..

  28. This is soooo true!!
    I use to be a Collections Manager.
    Do what he says!!
    God Bless All.
    Be good to fellow people.
    Karma is real.

  29. So lame I have $3k owed to a collections cuz of a short er visit all because the hospital never charged my insurance. So i was dreading trying to handle that situation cuz sure as hell im not going to be paying that bullshit for an hour in the er and an antibiotic script. Any advice anyone?

  30. My credit history was nothing to write home about. Lots of hard inquiries, about 6 negatives items on Experian, collections, charge offs and 2 evictions all in my credit report. I wasn’t careless with my credit report until I lost my job and filed for divorced because of domestic violence. I am a mother of 3 kids (Jim, Joan and Meeky). Two months ago I came across Hack West here and quickly contacted (HACKWEST at WRITEME dot COM). I was asked some few questions and West told me what to do which I did and about a week later my score boosted to 789 and I couldn’t find those bad items on my report rather saw some great tradelines. At first I didn’t believe until I got to the bank to request a loan and after my report was pulled, I was granted $50k mortgage loan, remember I was rejected severally by same bank. I promised to tell this testimony to the world. Feel free to contact Hack West via the email or phone: +1 (424) 307 2638. Don’t forget to mention my name when you do so. Goodluck!

  31. My brother went off and got pay days loans for over 3k and walked away and never paid a thing back! It's been about 7 years now…

  32. I spoke to a debt collector and admitted who I was but I didn't acknowledge that I owed the debt. What constitutes "admitting you own the debt?" I don't think just confirming who I was puts me in any jeopardy. I did not enter into any contract. The debt they are trying to collect is over 10 years old, well past the statute of limitations. This is "zombie" debt.

  33. I answered the phone and admited to being abc am i screwed or can i still fight the fact i dont owe the collection agency ???

  34. I was pretty lucky. I had owed money, this collection agency. I called them back, settled the amount. After that, it was automatically removed off my credit report. Guess I got lucky.

  35. To have been part of the scammers system….then turn around and assist your fellow sheep led Humans like these…is so heart see their Humans out there who still care for their own…Am drowing in such one state of trap I fell in…I even signed so they stop sending me thr accumulating delay fines…in a bid stating…soon I found work I would start paying…the insurance company now…mis sending me bills of all kinds every week…as they feel like…am close to over 5tjousand solely in insurance money…though only once been to hospital these year…I wish I'd seen these video…before I went to the collecters….

  36. My credit history was nothing to write home about. Lots of hard inquiries, about 6 negatives items on Experian, collections, charge offs and 2 evictions all in my credit report. I wasn’t careless with my credit report until I lost my job and filed for divorced because of domestic violence. I am a father of 3 kids (Jim, Joan and Meeky). Two months ago I came across Golden Surveyhere and quickly contacted [email protected] Gmail dot COM). I was asked some few questions and West told me what to do which I did and about a week later my score boosted to 789 and I couldn’t find those bad items on my report rather saw some great trade lines. At first I didn’t believe until I got to the bank to request a loan and after my report was pulled, I was granted $50k mortgage loan, remember I was rejected severally by same bank. I promised to tell this testimony to the world. Feel free to contact Hack West via the email or phone: +1 (407) 735 6053. Don’t forget to mention my name when you do so. Goodluck!

  37. debt collector send me validation letter twice, one 3 months ago, which I responded with a verification of debt letter, now I got another one with diferent reference number from them. Should I respond again?

  38. A credit report tradeline is simply an industry term to describe a credit account. If you have credit accounts, you therefore have tradelines on your report, and they may come in the form of line of credits, car loans, mortgages, credit cards, and payday advances…I actually got some good tradelines from HACKER FAITH and they did post in just a few business days. My score increased drastically by 93 points so they are really one of the best out there… [850 816 3349]………………

  39. What about pay to delete? I need these collections off my report to increase my credit score. I overstand what they probably paid for the debt and willing to finesse a lil bit above that.

  40. What about electricity or water bills because you moved out of state but you were going to pay them and it got sent to collection 4 months later when you found a new place

  41. I have a loan for 805$ and its been a year since I haven't paid it and now it's on my credit. When I pay it would it come off???

Leave a Reply

(*) Required, Your email will not be published