Does anyone know if collection gets flagged for finra as a disclosure.

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Compromises do but not collections.

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It may be something a lawyer needs to address just to be safe.

I negotiated with a debt collector on a medical bill when I was younger once so instead of paying $1,000, I only paid $700 (a lot in college to me). Well, that screwed me cause now it’s disclosed on my U4. This was way before I had any license.

What if its been on collection for months, I just ignored it.

And if I pay it in full before getting my license ?

As far as I can remember, yes..... When I first became a financial advisor 20+ years ago, my credit report was pulled. The idea is that if you allowed a debt that you owe go to collections, would you be trustworthy enough and not be enticed to do something shady with a client's assets.

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