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The usual standard for debts to disappear from your credit report is 7 years. The trick is to make sure you never make a promise to pay or say you'll pay because that starts your 7 years all over again.

2011-09-12 21:03:49
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Can a collection agency report the same debt more than once a month to the the credit bureaus?

You did not include a jurisdiction for your question. Where I live the collection agency can report any failure or late payment of a scheduled payment. That means if you are on weekly they can report you weekly. If you are late by 1 minute they can report that every time also.

If you pay a collection account will it stay on your report for 7 more years after the payment?

Yes. And it stays on 7 years from the date of payment.

Can a collection be taken off of a credit report if a payment plan is arranged?

Usually the collection agency won't take it off until the bill is paid in full.

When do collection agencies report the debt to the credit bureau?

They usually give you 30 days to respond to the debt and make payment arrangements. If you dont respond they usually report it.

Medical bills on credit report?

unpaid collection on medical bills can possibly be reported on bureau, but payment history is not reported.

Will a paid in full collection agency debt look better than a settlement payment on a credit report?

Yes, though both will damage your credit report to some extent.

How do I remove a collection item on my credit report that was disputed but not removed?

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.

Is a collection agency obligated to remove debt from your credit report?

No! The only obligation of the collection agency regarding a debt is to accurately report the debt...i.e. balance outstanding, current status, and payment history. However, if you are paying or contemplating paying a collection agency, it would be wise to negotiate a positive outcome...i.e. the total removal of the account from your credit profile in exchange for payment. This should be negotiated prior to paying the collection agency and the agreement should be in writing.

If a collection sHow is up on your credit report does it affect you the same way regardless of the reason for the collection?

I would imaging that it would. A collection is a collection, reguardles if it is becasue you refuse to pay it or you want to pay, but you can't. You may be able to work with the collection company to get a payment plan started and have them upadte it to "Paying as agreed"

I tried to make a payment to a bill collector they refused to take the payment. I went to the company that turned me in to collection they accepted the payment. what are my rights?

If the collection agency did not accept your payment, the debt should be discharged from their control. You might need to contact an attorney to make sure these debts are removed from your credit report. If you are making payments to the company that sent you to collections, they will need to remove you from the collections agency.

Will having a payment plan with a collection agency greatly reduce your credit score?

No. Once a person is being threatened by a collection agency, there is a high liklihood that the damage to the credit report is already done - a chargeoff or collections transline will already be in your credit report. Having a payment plan merely gets the debt paid and on-time payments are usually NOT reported (however, if you miss a payment, that company can and will send a negative tradeline to further damage your credit reputation).

Should you keep making payments on your payment plan if the collection agency keeps reporting you as delinquent?

Yes. The person can always challenge a negative entry on their credit report whereas ceasing payment would result in a default of the contract and leave the borrower/debtor open for collection action and/or a creditor lawsuit.

What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?

Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.

Can a paid settlement to the collection agency be reported as paid as agreed?

As a general rule the answer is no. Collection agencies will report this to the credit bureau as being settled for less than what was due, which can have a negative impact on your credit report. While paying this money could seem like an effort to repair your credit, it actually can damage it. A situation like this often results from a debt being old and about to fall off of your credit report. If you pay the money to the collection agency then it will stamp a record of such payment for an amount less than the amount originally due. The worst part is that such a record will stay in your credit file for another seven years from the day the payment was received! If you don't make the payment the negative report resulting from that will probably fall off of your credit report much sooner.

How do you challenge a collection agency from extending the expiration date?

Don't make a payment from a credit report point of view, its the last date of activities in other words the last date you made the payment. They can report this from 7 years of the last payment. Keep in mind that you have the right to challenge double entries on your credit report e.g Collection and Creditors reporting twice and many collections attempt to get you to make a payment in order to extend this time. Don't if its been over two years it does not affect your credit score as much and if you are attempting to get a mortgage, pay that debt in escrow at closing. Source: Credit Bible by Phil Turner

Can a debt be classified as a judgment if you made a payment and the collection agency contacted you and you showed proof of payment and are paying the remaining balance?

if collection agency is not from your lender, but third party, then you need to fax them proof of your payments to your lender or financial insitution and have them send you a letter stating that they will not report you to credit bureau. and also have them contact the collection agency you are making payments. asian623

If a second collection agency takes over a unpaid debt can they have that collection put on your report?

Yes the second collection will be placed on the credit report. But they will remove the first collection agency off the report. In some states it is against the law to be double billed by two collection agency for the same debt.

If the original creditor is not reporting a debt to your credit report but their collection agency is can the original creditor instruct the agency to have the item removed in return for full payment?


If you have already made an agreement with collection agency can you later renegotiate a lower payment amount due to income changes?

You can try, however if they agree then this will change the date on your credit report. Meaning: It will stay on your credit report even longer.

What report is used to keep track of accounts in collections?

collection report

If you settle an old credit card debt with a collection agency paying the negotiated price in full will the collection agency remove the collection from your credit report?

No the collection will not be removed from the credit report. They will show it paid in full.

If a debt doesnt appear on your credit report can a debt collector still try to get payment?

Yes, credit report has nothing to do with Debt collection. What you should be looking for is State Statute of Limitation. Please type it in google and check the law for your state. Thanks!

A paid collection is still on my credit report it was not turned over a s a last resort they never gave you a chance to make payment arrangements from the time it was due?

go to another company.

Can a collection agency report you to a credit bureau if you are making payments to the creditor?

Yes, they can. However, most don't provided you make a payment agreement with them and honor it until the bill is paid in full.

Is there a dollar amount for collection agency's to report to the credit bureau?

A collection agency can report you to the credit bureau for any amount of money. There are agencies that will report for amounts under a hundred dollars.