Do you need to pay a collection?  Or are you weighing the pros and cons of sending money to a collection agency?  I feel your pain!  Here’s how I handled it…

Imagine getting a letter from a collection agency basically saying:

“Pay Us in 10 Days or We’ll Trash Your Credit”

I thought I paid my debts, but this one came back – determined to ruin my life.

After spending 18 months fixing my credit and raising my credit score over 150 points, all that hard-work was about to go down the drain… in 10 days.

My credit wasn’t great, but I didn’t want bad credit again.  A new collection can take over a hundred points off your credit score!

But, I had a problem -

How do I Get Fast Cash to Pay Off the Collection?

I didn’t get paid for another week and a half and my bank account was empty.

But I knew if this unpaid collection account hit my credit reports, I’d pay thousands of dollars more in interest on my next car or home.

I needed a loan fast, so I could pay the collection agency within the 10-day “grace period” and avoid damaging my credit.

How an Online Cash Advance Saved My Credit

I wondered, like you might, “how can I pay a collection bill with no money?”

I asked my bank for a loan – they said it’d take up to two weeks to get the money.  No good.

So I searched online for the best cash advance site and was overwhelmed.

I found one site which looked good.

They promised a “fast online payday loan for up to $1,500 in 1 hour.”  But there wasn’t a secure padlock on the application page so I knew it wasn’t safe.

Finally, I discovered PayDay One.  I wondered if Payday One was a scam, but I was quickly reassured —

  • Because their is clean and uncluttered (most cash advance sites look like boiler room operations)… and… their application page was secured
  • Because they’re state licensed (and you can view their state licenses)
  • Because they list their toll-free number on their site; I called it to test and reached a real, live person

So I filled out their short loan application, which asked for basic stuff like where I work and where I bank (so they can wire funds into my account overnight.)

I hit the apply button, held my breath and saw…

“You’re Approved for $500″

Two hours later, a nice man called me to verify information on my application (they’re required to do that because of the Patriot Act).

I asked him how long it’d take to get the loan.  He said the funds would show up in my bank account by the next day.

I still wasn’t sure what to expect, since this was the first time I got a payday loan – let alone a loan online.

But the next morning the funds were there.

With my cash in hand, I paid the collection agency.  While I wasn’t excited to pay them, I was happy to save my credit.

Are you behind on any bills?

Then do what it takes today to get caught-up.  You’ll thank yourself in the long run!  It’s far better to pay the interest on the loan than to pay tens of thousands of dollars more if a collection winds up on your credit report!

Click here to apply for a loan with the same site I got mine from…

Related Posts...

Tagged with: • • • • • •

Filed under: Bad Credit Loans

Like this post? Subscribe to my RSS feed and get loads more!