When paying off collections accounts you need to be careful when sending in less money than what you owe to satisfy a debt. A creditor may come back later and want to get more money out of you. You need to get a release for the deficiency of the debt owed. You do not want a creditor coming back later to try and collect more money from you.

If You Settle A Debt For Less Than What You Owe Get A Release Continue Reading »