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Answered 2007-02-16 16:48:27

When I had a collection deleted from my credit it made my score go up. It will take several weeks.

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Can a collection agency place an account back on your credit file if it has previously been deleted by all three credit bureaus in March 2004?

Afraid so. If they have bought the account and the SOL has not expired.


What does it mean when your credit report states that you have a paid closed collection account on you credit report?

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.


How do collection accounts affect your credit score?

== == Collection account are 20% of the total credit score module.


What is the journal entry for collected on account 1200?

Debit cash / bank 1200Credit accounts receivable 1200If it is a collection from customer's account, thenDEBIT: Cash 1200CREDIT: Accounts Receivable 1200Collection from customer's account


Can a collection agency continue to report a collection account to the credit bureau after the account is sold to another collection agency?

No, once a collection agency relinquishes their claim to the account by selling it they must remove all negative trade lines related to that account from your credit reports. Hope this helps ST


How long does a paid collection remain in your credit?

7 to 10 yrs from the time it appeared initially on your credit. Contact original creditor & see if they will help you with a letter saying there was a billing error, send the letter if you can get one to the collection company & have them remove the collection account for it was entered in error. Cry a lot and ask for mercy.


Can a collection agency pull your credit?

No! ###### Yes if they have permissable perpose to do so (ie: Collection On Your Account)


How can you mend your credit after a paid collection?

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.


When an account is deleted from a credit bureau do the other credit bureaus automatically delete it too?

only if you and your lender report it to the other bureaus


Can an unpaid ambulance bill hurt your credit?

Yep! If the ambulance company turns your account over to a collection agency that agency might report the collection on your credit. Medical collections are the most common type of collection on a credit report.


Does an account put with a collection agency always show up on your credit report?

This depends only if the creditor originally reported your account to your credit report.


Where do you pay collection accounts that are reported on your credit report when the company is out of business or no longer handles the account that was reported for collection?

You pay the collection agency.


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.


When you close an amazon account does your credit card info get closed aswell or dods the company keep all of this info?

When your Amazon account is closed, the credit card info that is associated with the account will not be kept by the company and will be deleted also.


If you refuse to pay a doctor referred by a 'if we do not win you do not pay' lawyer who took a car accident case will it hurt your credit?

Is the doctor going to turn the account over to a collection agency? A collection account would hurt your credit. Is the collection agency going to sell the account to another agency, thus extending the time period it shows on your credit report? If they do, it could hurt your credit for an even longer period of time.


If a debt is reflected on your credit report by a collection agency can the original creditor recall their collection allowing you to dispute the debt with the credit bureaus and have it removed?

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.


Can a collection agency for a non-credit card-type bill hurt your credit rating?

Yes Once a collection account is reported to your credit history, its origin no longer matters. If money is owed and it gets listed with a credit reporting agency as a collection account, it affects the main factor in your credit score: Payment history. See www.myfico.com/CreditEducation/WhatsInYourScore.aspx for details of a FICO score.


Can medical bills effect your credit while making payments on them?

Yes, this is only reported on your credit report if it is a collection account.


How can i delet the collections on my credit profile with out paying the full amount of the collection?

There are some collection companies that will agree to what is termed as a pay for deletion. You pay in full or make a settlement and they will delete the account from reporting at the credit bureaus. Most collection companies won't. To get the account deleted from the credit bureaus you need to use the consumer credit laws to get the results you want. Simply the law states (FCRA - Fair Credit Reporting Act) that nothing can stay on your credit report if it is inaccurate, incomplete, obsolete, or can not be verified. This gives you the power to challenge how the account is reporting. Unfortunately, not many people do this well. In addition, your power increases if a collection agency violates the FDCPA - the Fair Debt Collection Practices Act. You may be able to use that as a wedge. If you are unsure how to do all this you might want to leave it to the experts at a credit repair company. Do your homework first. What training have they had, do they do this full time, are they recognized in their industry. A good starting point is NACSO - the credit repair industry's trade association.


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?

YES, THE CREDITOR WILL REQUEST FOR EITHER PARTIAL PAYMENT OR FULL PAYMENT. ASK FOR A LETTER STATING THAT THIS COLLECTION WAS PAID IN FULL AND THAT YOU HAVE A ZERO BALANCE. ALSO; REQUEST THAT THIS LETTER STATES THAT THIS ACCOUNT NEEDS TO BE DELETED IN ERROR, SO THAT YOU COULD SEND THIS LETTER TO THE BUREAUS AND HAVE THEM DELETE THIS ACCOUNT OFF YOUR CREDIT REPORT AND RAISE YOUR CREDIT RATING.


If you have a collection that has been paid off for 2 years is there anyway to have it removed from your credit report?

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.


How many points does your credit score drop after a collection?

While there's no definitive answer with respect to how many points your credit score may drop after a collection, a collection account is a clear indication that a loan, credit card or retail card was not repaid and payment history is one major contributing factor to your credit score. This can have a negative impact on your credit score.


If you owe money to collections and you pay it can you get these items removed from your credit report?

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.


If you stop paying on a collection account that no longer shows on your credit report can the collection company report the unpaid balance to the credit bureaus?

Yes they can and they probably will. if you are concerned about your credit profile, it would not be a good idea to stop paying.


If you have an outstanding child support debt on your credit report what does it mean when your credit report states that this account will be positive in the year 2010?

By that date any delinquencies will be deleted because they'll be considered a write-off on your account.