Legal Question in Credit and Debt Law in Pennsylvania
Credit Reporting
If an past debt is placed on the credit file from a collection agency, what is the lowest amount that can be reported. We are a physicians office and use a collection agency, and we had thought anything less than $50.00 could not reflect on the credit report.
Asked on 7/15/08, 3:22 pm
1 Answer from Attorneys
John Gibson
John W. Gibson, Esquire
Re: Credit Reporting
I've seen lower amounts on credit cards but I don't know if it makes a whole lot of sense from a creditor's viewpoint to report items. Hampering your debtor's credit doesn't do you any good and can even hurt you since it affects the debtor's ability to pay.
Answered on 7/15/08, 4:00 pm
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