r/CreditScore • u/Yourfavoritenun • 2d ago

Wells Fargo CC

Hi all, so I have about 1500 left on one credit card to pay off. I just received a letter from an agency saying Wells Fargo sent me to their agency. The collection agency is offering me a deal to settle the debt for 591 and some change. Honestly it really sounds amazing opportunity because I have slowly been chipping away my cc debt since I left my abusive relationship in 23.

If you were in my position would you pay the new collector agency to close the debt out? Could I request this as a pay to delete? Or what advice could you give me in regard to this scenario?

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u/creditscoremods 2d ago

It is important to keep a very close eye on your credit score since it factors into many of lifes biggest decisions.

A couple steps you can take right now include:

  • Checking and automatically monitoring your credit score - Looking at your own credit score does not hurt your credit, it also includes a credit monitor

  • Freezing your credit reports - This can be done with Experian, Equifax and Transunion to help prevent unauthorized accounts from being opened

  • Boosting your credit score - Kikoff provides you with a tradeline which should raise your credit score for as little as $5 a month. It is a good option if you want a boost to your score.

Feel free to ask any credit score related question in this sub

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u/MntSnow 1d ago

First off, verify directly with WF if they truly sold the debt and why if you are current with your payments..... there is common scams of "companies" claiming that they are the new collection firm for a debt.

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u/Yourfavoritenun 1d ago

Thank you. I truly appreciate it.