You don't have to pay them. They purchase settled/written off accounts. The companies have already taken the loss on these accounts. CCS and companies like them typically pay .01 to .02 per dollar of what was owed on the written off account and try and collect the whole amount. Then they make you feel like their doing you a favor if you settle for half or more. You won't improve your credit paying them. The original company has already written it off and reported it to the collection agency.
Cons: everything
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