You can attempt to have this account removed (or deleted or simply shielded from view) in two ways.
The first way is by approaching the creditor or collection agency that placed the account. There is no federal or state law which requires or compels credit reporting. Any creditor can, at their discretion, remove or withdraw any account they choose to. The chances of them complying with this request is very small, but it is always worth a try.
The second way is by disputing it with any credit bureau that happens to display the account. The (federal) Fair Credit Reporting Act states that bureaus have 30-days during which they must "verify" any disputed item or shield it from view. The accuracy, authenticity or status of the account is not an issue. If the collection agency cannot "verify" the account, for whatever reason, it would work in your favor.
No, it will update to say paid after collection or charge off and remain on your report until the SOL has run its course for reporting which is 7 years. You can try disputing it with the CRA, when they do their investigation with the CA sometimes the CA purge your info after they have been paid so if your not in their computers then they can't verify the debt so the CRA have to delete the trade line. It all depends on how good of record keeping the CA's does.
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.
Collections can be disputed to the credit bureaus using the Fair Credit Reporting Act. The credit bureaus have 30 days to verify the listing or the listing must be removed from your credit report.
Anytime a negative item is removed from your credit report, it will raise your credit score unless new collections are added to your report.
Your credit score and income are more important than an account in collections.
Credit references
Credit references
YES, THIS COLLECTION ACCOUNT CAN BE DISPUTED; WHICH MEANS THAT AFTER THIS IS DISPUTED YOU CAN ALSO REQUEST FOR THIS ACCOUNT TO BE REMOVED FOR GOOD WITHOUT HAVING TO WAIT FOR THE SEVEN YEAR PERIOD. THIS WILL ALLOW YOU TO HAVE A CLEAN CREDIT HISTORY WHICH IN TURN INCREASE YOUR CREDIT RATING.
not if you never had any activity on the account after 7 years they have to remove it you can request that it be removed by contacing the 3 credit agencies
It is always a good policy to attempt this. But whether or not you succeed in getting a paid collection account removed from your credit report is totally within the discretion of the creditor. There is no law that requires or compels credit reporting. The Fair Credit Reporting Act states that IF an account is reported, then it must be correct. Therefore, collection agencies and creditors usually will tell a consumer that they "must" by law report the accurate nature of the account, which would be a paid collection, as opposed to removing the account.
THE ORIGINAL CREDITOR WILL BE ABLE TO HELP WITH REMOVING AN ACCOUNT BY REPORTING THIS TO THE BUREAUS. DO FIND OUT IF THEIR IS A NECESSARY STEP IN CONTACTING THE COLLECTION AGENCY FOR THESE SERVICES TO BE TAKEN CARE OF.
A joint account holder cannot be removed from the account, the account will have to be closed.
When you check your credit report there are several sections, one is called collections account. You will be able to review collections account directly after judgements, if any are listed on your report.