I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years.
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"I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years." — Suze Orman #moneywealth
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I generally encourage people to make good on debts when they have enough money to repay them.…
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I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years. — Suze Orman
About Suze Orman
Suze Orman was a Author from United States (1951–present).
Frequently Asked Questions
Who said "I generally encourage people to make good on debts when they have enough money…"?
This quote is attributed to Suze Orman, a Author from United States.
When did Suze Orman live?
Suze Orman lived from 1951 – present.
What is this quote about?
This quote touches on Money & Wealth. Browse more quotes on these themes from the categories page.