Credit: How much can 1 outstanding collection effect your evaluation. can they hit you over and over or of late once? Problem: I have/had a gym membership on a two year contract.

Problem: I have/had a gym membership on a two year contract. I completely rarley use the thing contained by fact i simply used it 2 times last year. i be 18 months through my contract. And put it on hold which cost me 5 dollars a month for 6 months then it would start up at the current charges of 25. The gym would automatically verbs the money from my credit card. 3 months ago my card was stolen and i cancelled it. I forgott to enlighten the gym so they were not reciving payments ( I know this is my fault) problem is I relized this when i get back into town from europe and be going to go to the gym. I go in to reward up the 15 dollars i owed them and take my sponsorship off of hold. problem is they sent me to collections. I would hold gladly compensated them the money if they had a moment ago called me (they own my number) I am a little bit ticked (collections hasn't call yet. i enjoy an 800 credit score and i am likely to take a hit out of principle does anyone know around how far 1 claims max is within your score

Answers: There isn't a set amount that your credit will drop. The model is totally complex. Suffice it to say that your win will no longer be 800.

Principles aside, why don't you try and contact the collection agency and tell them not to report against you and that you will retribution the balance rapidly. It may already be to late, but it worth trying.

You can other ask them to stop reporting against you on your credit. They are not supposed to (and can even be punished by the bureaus if they don't report), but again it is worth a try.

Best of luck

try to call the gym, and speak to customer realations, somebody you can explain the sitation. They should pass you the number of the collections agency. Try to setup the payment or reimburse all at one time, so they can erase the collections rotten of your credit report.

As for the hit, it shoudn't be so bad.

You can lose 50 points unforced, sometimes up to a 100 (just depends) but bottom line you will no longer be within the 800 club. It will really hit you pretty good, and the debt can be sold and reported up to 3 times on your report which would verbs your credit. My girlfriend had a bogus collection put on her report, and she go from a 690 to a 596. Got it deleted and rack up went put a bet on up.