.jpg "The Groves Team")
Beware of the rules of Lending, 8 of 12 Paying off Debt
DON’T PAY OFF COLLECTION ACCOUNTS OR CLOSE CREDIT CARDS -
The horrors that this can create are not pretty.
I know it may seem like the right thing to do, but this falls under the category of ’No Good Deed Goes Unpunished’. You can actually DROP your credit score substantially by paying off a small collection account or closing a long standing account.
Credit is one of the most valuable and tricky financial tools that we deal with. STOP, ASK ME FIRST before you do anything like this!!! There are very specific ways this has to be done.
May 29, 2012 by Elise Groves · Leave a Comment
For over 17 years my advice and personalized high tech, but high touch service has provided the critical information borrowers need to make appropriate financing decisions, tailored to their unique circumstances. Licensed since 1977, I have the depth of experience that few of my peers possess and have built a loyal referral base of happy and delighted clients, many of whom have become friends. I would like to earn your trust, and your business, so please call me today!
