– Up guys, it’s Ray
comin’ back to you again with another video regarding credit. And here’s where I keep
it real credit-wise. A little background information on me. I used to work for a
credit restoration company by the name of Buildworth Strategies. They’re located down
here in Miami, Florida. They’ve done great work
and I got to help a tremendous amount of
people in my local area obtain their new homes,
their dream cars, boats, you name it, I’ve been
able to help people a lot. Still to this day I’m
just thankful that I get phone calls and text messages saying just, thank you for helping me out. So this is the purpose of these videos. I wanna continue to provide to you guys tips and information
regarding credit because, at the end of the day,
it is a thing that if you understand it correctly can help you out and obtain your new home, your new car, whatever it is that you’re
tyrin’ to do with your credit. So today’s topic is
gonna be about something that I hold very dear in
my heart, sensitive to, because I’ve seen it hurt a lot of people, a lot of families,
including me in the past when I knew nothing about credit. And that is, specifically, on
paying collection agencies. You should not do it,
I don’t care who told you to do it, do not do it. And in this video I’m
gonna explain to you why. So one of the reasons and why I say do not pay collection agencies is because for one, all they’re tryin’
to do is get your money. And this is exactly how they do it. Let’s say you owe a company,
what’s a common one? Like T-Mobile. Let’s say you fell on hard times, it happened, we’re all human. And after six months
T-Mobile then charges off your account and sells it
off to the highest bidder, which is a collection agency. Key word charge-off. What charge-off means to
the company of T-Mobile is that their finance
department puts charge-off, and when they file taxes
at the end of the year, that’s like a loss to them. So that’s what they have to put down, and they report that to the agencies because it’s what they’re required to do. The highest bidder
collection agency then pays a portion of the total amount owed, pennies on the dollar,
and they obtain that. In turn, they call or
harass you multiple times in multiple ways until
you pay ’em the money. Just to keep things
simple, let’s just say that your bill was a total of $200. ABC Collection Agency
bought that debt from T-Mobile for, let’s say,
$20, because it is a percentage of that whole amount. So they bought that debt for $20, and here goes ABC Collection
Agency going to call you. Here’s what you don’t know. ABC Collection Agency has to
call you on the other end. If you go ahead and pay
$200 when they bought that debt for $20, they made
a huge profit off of you. And this is how collection
agencies stay alive, stay profitable, just doing that. But here’s what you don’t know. In order for a collection
agency to collect from you or go after you legally,
you first have to admit to the debt over the phone or by letter. This is why all their
phone calls are recorded, because with a recorded
line they got you on tape saying you are who you say you are. This is another thing that you don’t know. Legally, you did not sign a contract with ABC Collection Agency. What I mean by that is
you did not get services, telephone services, from
ABC Collection Agency. You got it from T-Mobile. But since T-Mobile sold your account off to ABC Collection Agency, T-Mobile has nothing to do with your account at all whatsoever. So what happens is is that
because you don’t have a signed contract or an
agreement between you and ABC Collection Agency,
that gray area says, well, who says you owe them? What I mean by that is,
unless you admit to the debt over the phone and when they ask you, are you John Smith, and
you say yes over the phone, I am John Smith, then they got you. But if you don’t say
anything, then they can only assume that they got the wrong person, because I’m pretty sure
you’re not the only person in the whole entire world
with your specific name. All right, guys, and
another thing that you guys have to pay attention
to it’s something that’s called the statute of limitations, and this varies from state to state. Basically what that means
is, in the credit world, is statute of limitations is how long of a timeframe does that
collection agency have to go after you legally at full force. After an account here, I think, I believe, depending no what the
account is, is five years. Then after that you’re not
obligated to pay that debt. If you pay attention,
if you’re still getting collection letters to
this day from an old debt that you know you had,
there’s gonna be language on that document that’s gonna say, you’re not obligated to
pay this debt because this has passed the
amount of time allotted by your state, or something
along those lines. Just make sure you look for it. They put it in really small
words because, obviously, they don’t want you to
notice it, but it’s there. If something has passed
more than five years, and now you go ahead and pay it, then that account will
restart for another seven years and remain on your credit report. Because a collection account,
whether it’s paid or not, is still negative, then
it will count negatively against you and by then
it’ll be very hard to remove that account because, in a sense, you’ve kind of admitted guilt towards not paying a bill of some sorts. What I’m tryin’ to say is is
that if you pay a collection account it’s bad, because
it will remain anyways. And if you don’t, it’s bad anyways, it can’t get any worse than that. If you want to spend money
with the intention of removing a negative item
from your credit report, you might as well do
your research and hire a very good, reputable
credit restoration agency. I’ll leave you the link
and the information of the one that I used to work for, which is located here in Miami, Florida, but they have clients
from all over the nation. I don’t work for them
any longer, and again, still do your research
and hire one that’s, benefits you the most. But in a sense, what I’m telling you is, do your research, don’t be so overwhelmed on paying these accounts because it can hurt you in the long run if you do. I’ll put it for an example. If you get a speeding
ticket and you just go ahead and pay for it
with the intentions of, oh, I guess it’ll go away. When you go get car insurance
and they run your record, it’s gonna show that
you were speeding at a such a day, such a time, and
that right there stays for, I believe, in the state of
Florida is like five years. That right there is gonna
raise your insurance rate. The same way with credit. Even though you have a
paid collection account, it’s gonna raise your
interest rates on whatever it is, whatever else
that you’re tryin’ to do. So you might as well go fight it. If the state has nothing to prove to it, then that goes away. That alone right there’s gonna help you save a tremendous amount of money. All right guys, so I’m
only giving you this piece of information
because the end of the year is about to come, Christmas, Thanksgiving, tax season, and you guys are about to get a huge amount of money. And the first thing that
you guys are gonna do, and I’m tired of seeing
it, is that you guys go spend all this money
on collection agencies. At the end of the day, the
items will still remain on your credit report
and still continue to negatively affect you,
holding you back from obtaining your dream home, your dream car, or your dream whatever it may
be that you need credit for. Save your money. Don’t pay a company that
you don’t even know exists. Don’t pay a company that
you’ve never contracted for for any kind of
services at all whatsoever. Don’t be quick to spend
your money on a complete stranger that’s calling you over the phone that their only purpose is to take all your money from you. And they can care less about how you spend your new years, out in the streets, or not being able to feed
your kids or your family. This is something that I hold
very, very near to my heart. I’ve seen it affect a lot of people. It almost affected me. I’ll make another video
regarding my specific story and how I was able to overcome that. I don’t believe in no collection agencies. If you are gonna pay some money, either pay a credit restoration company, do your research on them, and make sure they do the work for you. Again, I’m gonna leave the description to the one that I used to work for. They’ve done great work
and I was able to help a tremendous amount of
people through them. But don’t be so quick to spend your money on collection agencies that’s not gonna help you out in the long run. If you are gonna spend some money, again, do your research on a
credit restoration agency, or if the account is still
with your original creditor, they’re still with that
main company before they send it off, negotiate with
them and pay them directly. Don’t go ahead and pay a company you’ve never heard of before and affecting you way more years ahead of you. All right, guys? If you want me to still
continue to make more videos, I’d be happy to, I like doin’ this, and I’ll still continue to keep it real.



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  2. PMacs Mccullum says:

    So once "TMobile" charges the debt off. What do I do if I want to start services with them again

  3. Frontline 612 says:

    What about electricity or water bills because you moved out of state but you were going to pay them and it got sent to collection 4 months later when you found a new place

  4. edgar blast says:


  5. AAA says:

    Thank you so much brother. I really needed your help plz call ASAP313-932-1927🙏🙏🙏

  6. N Tatu says:

    I heard collection agencies can sue debtors in court and take money out of their bank accounts. Is that true?

  7. Enriko Shakh says:

    What happens when I say yes to my name but no to debt

  8. Melissa Hannah says:

    What about when people take you to court ?????? Thank you . Great post .

  9. Nicole Brown says:

    I have a loan for 805$ and its been a year since I haven't paid it and now it's on my credit. When I pay it would it come off???

  10. Layla20 says:

    This is amazingly valuable info! I don’t have any accounts in collection, but this is good to know and pass on to family & friends! Thank you! I just subscribed! 😎

  11. Death Row Joe says:

    Yes Dave Ramsey said that too! They get it for pennies on the dollar!! Back in 2016 my dumbass caved in & paid a debt of $3.5k from this fuckin asshole agency called Rash Curtis & Associates!! They are trying to get me again for a hospital bill!! I have their letters & will shred their letters now.. lol I ain’t giving them no more money..

  12. Prabhat Shukla says:

    The Golden rule is keep life simple & don't blindly immitate rich people & celebrities.. They spend & live luxurious life because they have that kind of money.. don't buy credit cards unless it's very necessary, just keep 1 or 2. Don't ever invest in costly cars, motorbikes, boats etc.. they all are dead investments (costing monthly maintenance, insurance, etc)..

  13. DeepOneForThought says:

    Valuable info. But my question is what difference does it make if you admit to the collectors whether it’s you or not over the phone since you never had any obligation to them anyway? Does admitting your identity and you owe the debt make you legally responsible to pay THEM?


    Young man all you said was true. Dat … thanks foe helping. The fams out there and the non schooled peace bro chico banda mrjesse421

  15. Nikkie Braxton says:

    I’m grateful I used Luxuryhacks net

  16. Ammar TX says:

    I don’t pay nothing and I don’t answer the phone

  17. travis thompson says:

    Dade County all day baby!!!!!!

  18. AmericanRelic2hear says:

    Excellent advise! Thank you!!!

  19. JustKhristene says:

    We need these type of information. Thank you!

  20. Dan O Qam Yasharahla says:

    What happens if you started paying collections, if I stop paying will they re-sell it?

  21. Josephine Alvarado says:

    Ray Bueno I'm so sorry I missed your call, can we set up for a new appt.?

  22. Genaro Rodriguez says:

    you sound like a male cardi b

  23. Damon Atherly says:

    This guy is full of it. He doesn't know what he's talking about. He worked for a collection agency, sure, but being a guy working a phone for minimum wage plus a commision doesn't make you an expert.

  24. Alex Wolf says:

    If you want a house, car or large loan, and you have unpaid collections, it's not gonna happen.

  25. Astrid Slaughter says:

    Mine put a lean on a piece of property that belonged to my parents, I forgot my name was on it. Then it got worse because I had filed for bankruptcy. The lawyer who did my bankruptcy got the property, $25,000.00 gone.

  26. Astrid Slaughter says:

    Wish I had heard this before I lost everything.

  27. Guillemo Lorezo says:


  28. t.marie 88 says:

    I really wish that I saw this video before paying a collection just yesterday. I really want to improve my credit score and that was the only thing showing on my credit report so i thought it would be good if i took care of it.. guess i was wrong. Not I'm not sure how that will affect me.

  29. Fuu Yuh says:

    I owe the hospital $700 out of $1,600 I don’t have a job rn so they literally kept sending me letters when my fiancé got unemployed and stoped paying for like a month they stressed me out because they we’re literally crying for $1,000 at least we were paying a month $50 better than nothing and today I got a letter saying I owe $83k which I know is not right since my insurance paid part of it and my responsibility was only paying $1,600 I swear these hospitals cry for $700 of money they should be happy we’re at least paying $50 a month

  30. Annabel Binet says:

    What about when it reflects on your credit report . . . Cause mine didn’t come off until I paid it in full and after 2 weeks it came off


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  33. tom smith says:

    Fixcreditsolutions @outlookcom is very perfect for score boost and collections removal

  34. Caroline McCullough says:

    Midland funding sued me in civil court. Just got back from court. The only way they win is if you don’t show up. The lawyer from Midland told the judge I owe 3500$ ( a ridiculous amount). I simply said “ prove it, show me what I signed, what the original debt and agreement was and show me proof that Midland owns the debt and how much they bought it for” The lawyer had nothing but a few old statements and affidavits from unknown people claiming I owe. Then I kept my mouth shut. Judgement for the Plaintiff!!! The lawyer told me after that they usually only win if you don’t show up!? So don’t ignore the summons! Reply “ I don’t agree” go to court and ignore them. Have them prove to the judge what you owe! Your credit is already ruined!

  35. Calvin Van says:

    Subscribed! Thanks for sharing this video brother! It means so much

  36. Katrina Smith says:

    What can be done regarding a college debt that is with a collection agent?

  37. Norangelis says:

    Thank you… much.

  38. Nusrat Sultana says:

    What about NY medicaid collection department.

  39. Silver Wolves says:

    what if i owe for traffic tickets and i need to get me suspension lifted?

  40. Dustee Dawg says:

    This is aaabsolutley stupid advice……i had a couple 100 dollars worth of collections……i paid them off and my credit immediately jumped 50 points.

  41. Pulpit Bully says:

    You’ll get a judgement. That’s the reality. Don’t believe me? Wait and see.

  42. Ben Evans says:

    So, if I've been making payments to a debt collector for my student loan, then I'm screwed?

  43. PapoDavey says:

    If i dont pay don’t i get credit ramifications?

  44. Linda Dixon says:

    What if this collection is on your credit preventing you from getting a house or apartment. You're saying not pay but?????

  45. Marvid Eladiv says:

    I should have seen your video before brother. Great video I subscribed and liked.

  46. Sugar Free says:

    Good information. Thank you


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    WHATSAPP +1(585)4600063.

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    Have you heard about this so called hacker CALVIN ON gmail ( [email protected]) NO UPFRONT FEE. he’s real and legit… I’m glad to say this because he helped changed my life round tho He helped me hack $25000 in to my bank account and help hack $17000 into my sister credit card. Now am able to pay off all my debit

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  49. Phil Hatch says:

    Wut if i owe a bank for an overdrawn checking account and i want to open a new checking account?

  50. Niylah JayPheonix says:

    Shit… Well I fucked up I talked to them over the phone and they got me for thousands😭

  51. Kevin Davila says:

    I owed fingerhut. Got behind few years ago. Im in nevada. They charged it off 2016. Collection agency bought it apparently. Last year an nunfiled notice of entry of default judgement showd up in my mailbox at my current address. Went to courthouse to see what actually had been filed. They filed a proof of service stating they served a female and provided her name. Was at an old address and that female said she didn't know me..which she doesn't, nor do i know tenant..and that they left the paperwork on the floor in front of her anyway. I filed a response with the court to avoid a judgement being entered stating that i had no idea who their client or this debt was and never had been served any paperwork regarding any of this and the service they did was fraudulent and asked it be dismiseed. The atty keeps filing a request for discovery and a hearing be set but the court never redponds and still no hearing date after 2 years and multiple filings by the attorney. I have not filed anything more than my original response. Never spoke to anyone nor received any regular mail or letters regarding this from them. Just copies of everything they file with the court. They have included the paperwork from the original creditor and my contract with them then the agreement i guess the creditor did with the collection agency to sell the 'block of bad debts' to them. How do i get out of this if it actually goes to court. The plaintiff on the suit is the collection agency not the original creditor. The original creditor wont take any pmt from me because its charged off and sold.

  52. Michele Marie Dalene says:

    debt collectors are bottom feeding scum

  53. Caroline Twigs says:

    After meeting Luxuryhacks. net I started having good score and got all my debts paid

  54. Ghalia Edward says:

    Very informative information you gave the perfect example with AT&T that’s what I’m going through but with sprint for that same exact amount of money it’s been in collections for a while so sprint sold it to some company so when I check my credit it’s the first thing on there that sees it needs immediate attention I’m not going to pay it sprint sold it to them or they bought it from sprint cause it was getting ready to get off my name

  55. Nicolas Steve says:

    Luxuryhacks . Net made it possible to get myself a new crib !

  56. Arthur Johnson says:

    Excellent information!

  57. Allie Alba says:

    I think I royally screwed myself. After years of avoiding the toll free calls I finally started answering a few months ago and tried to “put off paying”. Idk what to do now, do I dispute? Or try to settle and ask them to remove it from my credit?? I’m so upset that it’s taken me this long to care about my credit.

  58. kiki c says:

    What if you have a unique name?

  59. Mrs Mary says:

    maskoffaid,com got me over $20,000 through hacked transfer they did for me .They are really legit .

  60. Matt Holloway says:

    Luxuryhacks, Net is good

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