Many types of accounts can appear on your credit report. Any account that shows a past due balance can be shown as a collection account, a past due amount or a charged-off account.
All late payments, collections, judgments, charge-offs, liens, garnishments, foreclosures and bankruptcies need to be explained in detail by writing a letter to the underwriter.
On some loan types, some or all of the collections may need to be paid off, but please call me before you do anything on your credit.
Please contact me directly if you have any of these on your credit report. Some loan programs are more forgiving than others in these circumstances are. We can work with you to help improve your credit situation.
Please do not pay off any accounts that are past due or show as a collection without talking to me first.