Only the credit bureaus the collection agency can remove a collection from your credit report. The collection agency won't do it now since it is paid and they have no reason to. You can dispute it to the credit bureaus and ask for verification on the account. They will have 30 days to verify the items or it must be removed from your credit report.
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.
Short Answer: Yes. If you were deliquent, and then paid, it will show that you paid, but were late. And that stays on your credit for seven years. Sometimes you can negotiate with the collection firm to have it removed from your credit in exchange for payment.
Yes. They will also consider how much debt your currently have and how you are paying your other current obligations as well. Just having a past paid collection will not hurt your chances in getting a credit card.
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.
A collection can drop your score dramatically and may make it impossible to get a new loan. It is important to take care of the collection account since it will be removed from your credit report seven years after it is paid, but can stay on indefinitely if not.
The original account with a normal credit company went to a third party collection agency. Only after it went to the collection agency was the debt paid and then the account closed.
No the collection will not be removed from the credit report. They will show it paid in full.
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.
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.
Short Answer: Yes. If you were deliquent, and then paid, it will show that you paid, but were late. And that stays on your credit for seven years. Sometimes you can negotiate with the collection firm to have it removed from your credit in exchange for payment.
Seven years.
7 years
You should send notification to the collection agency you paid in full. They will have the status changed. Carbon Copy the credit bureau.
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.
Yes. They will also consider how much debt your currently have and how you are paying your other current obligations as well. Just having a past paid collection will not hurt your chances in getting a credit card.
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.