Collection agencies

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Anonymous
Collection agencies 2016-01-23 20:02:52 Post No. 1056475
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Collection agencies Anonymous 2016-01-23 20:02:52 Post No. 1056475 [Report]

So I was stupid and even though I switched banks I did not close my account out.
About a month ago I was making a purchase with paypal and used said bank which was rejected and I was given a late draft fee. I spoke with a branch manager at my bank about this and she spoke with her manager or whatever but both came back stating that since it was not a bank error they cannot do anything about it.
I have a -98.00 balance in that account which will go to collections in a few weeks. What will really happen to that money once it goes to the collection agency, will they just harrass me, how will it affect my credit? Am I just better off paying the balance?

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Anonymous 2016-01-23 20:08:45 Post No.1056480
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Anonymous 2016-01-23 20:08:45 Post No.1056480 [Report]

>>1056475
You're better off paying the balance. After a certain amount of time, debts will appear in your credit report. Late payments have a high impact, and can very negatively affect your credit for a long period of time.

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Anonymous 2016-01-23 20:11:22 Post No.1056485
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Anonymous 2016-01-23 20:11:22 Post No.1056485 [Report]

>>1056475
Did you seriously just ask if it's better to destroy your credit for 7 years over $98?

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Anonymous 2016-01-23 20:16:30 Post No.1056488
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Anonymous 2016-01-23 20:16:30 Post No.1056488 [Report]

>>1056485
I am rather ignorant to the world of credit and posted the amount to see if it was small enough not to matter. But the way you put it makes it more obvious to me.

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Anonymous 2016-01-24 17:47:01 Post No.1058142
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Anonymous 2016-01-24 17:47:01 Post No.1058142 [Report]

>>1056488
$1 or $1000 it will show up on your credit report as a debt owed and you will be skullfucked as such