You have 3 options:
You can write a letter of dispute to the credit reporting agency. By law the CRA has 30 days to verify the item in question. If they are unable to verify, the account is shielded from view on that credit bureau.
You can request that the original creditor or collection agency withdraw the account from the credit bureaus. This is generally not accomplished on accounts that have already been paid.
You can wait 7 years from the time the account was last used for it to be shielded from view.
If the account is legitimately yours, then you cannot legally have it removed from your credit report. However, if you paid the collection account off, it should be reported as paid on your credit report. Still, the accounts will not be removed from your credit report for 7 years.
No, it will show on your credit report as a paid collection/judgement and will fall off of your credit report in 7 years. After you pay the debt keep all receipts and check your credit report in about 60 days to make sure they reported it as paid. Many collection companies never report it paid.
Not much other than having the collection marked from unpaid to paid. If you are paying off credit collection companies, negotiate to get a letter from them telling you that the amount you are paying is the balance as agreed and that they will remove it from your credit report. Do not pay until you get that letter. If you pay without doing that, it will stay on your credit report for about 3 years depending on when the collection was first put on your credit report. The fact that you paid it already just says on your credit report that instead of unpaid the collection is marked as paid. If you already paid either repair your credit or get a reputable firm in the BBB who has a money-back guaranteed policy.
Nothing, a paid collection reporting on your credit report is just the same as if it was reporting unpaid, they both are negative entries.
Only the collection agency or the credit bureaus can remove a collection off a credit report. You can negotiate the removal of the collection off the credit report upon final payment of the debt owed. Some collection agencies have policies against this, some don't. You can also redispute it to the credit bureaus as many times as they will let you. It has a higher chance of being removed if it is paid off and an older account.
Usually the collection agency won't take it off until the bill is paid in full.
There are 2 ways to remove a collection off your credit report. Either by the original creditor or by the credit bureau. The creditor will most likely not help you unless it was negotiated before you paid them off. You can dispute the debt to the credit bureaus and they must investigate it. If it isn't verified with in 30 days it will be removed from your credit report.
You should send notification to the collection agency you paid in full. They will have the status changed. Carbon Copy the credit bureau.
7 years, after they are paid off. I have heard that tax liens stay on your credit report 10 years after they are paid off.
No. Negative entries concerning all creditor debts remain on the consumer's credit report for the required 7 years.
paid charge off affects your report as it is negative information
It should show paid on your report. It may still show that it was a delinquent account. When you pay it off, be sure to get a receipt. That way if someone looks at your credit and asks you about it, you have proof that it's paid. The update can occur within one day.