Once you have paid a collection bill, does it come off your credit report?
justaquestion asked:
I just ran my credit report and I have numerous accounts showing that I still owe them when I know they have been paid.
Also, once they verify with the credit bereau does it come off your report or does it just show paid??
Eleanor
I just ran my credit report and I have numerous accounts showing that I still owe them when I know they have been paid.
Also, once they verify with the credit bereau does it come off your report or does it just show paid??
Eleanor
Tags: Credit Bereau, Credit Report
June 13th, 2009 at 11:15 am
Courtney
You have to provide the credit bureau with proof and they can have it removed. Or, you can contact the person you paid and ask them to remove it. Both is probably the best idea… Good luck.
June 15th, 2009 at 3:48 pm
Sheila
Yes they are supposed to be taken off your credit report or reported as paid. You need to contact the places that are still on your report as you owing them and tell them that you want them to correct this problem!
June 18th, 2009 at 6:54 pm
Barry
Allow 60-90 days contact the Creditor,then file a claim to the credit bureau dept.
June 20th, 2009 at 10:06 pm
Monica
They will stay on your credit report for years. If you had a charge off, which is common with an account in collection, the negative item will remain on your report for 71/2 years from the default.
If you behave yourself financially, the impact of these negative items will deminish over time.
If your report shows paid items as unpaid, read this article:. It gives you the names and addresses of the credit bureaus and instructions on how to contest incorrect entries.
June 21st, 2009 at 3:43 pm
Barry
The account will still appear for up to 7 years. Your creditor should update your report to show that the account has been settled. If they don’t, you can send a dispute to the credit bureaus. Your report should include instruction telling you how to do this.
June 24th, 2009 at 6:12 am
James
Send the reporting agency a receipt saying that you paid it, and they should mark it as paid, but it will stay on your record for at least 7 years after being paid.
June 27th, 2009 at 2:34 pm
Ryan
It does come off your credit report….in seven years.
June 27th, 2009 at 9:35 pm
Mark
Collection agencies are lazy once they’ve already gotten their money. Once your debts have been paid, go into your credit record via the 3 major credit agencies and submit a dispute against the debts you’ve paid. The agencies will then forward it to to the collection companies. The collection companies have 30-45 days to answer the dispute. Because they’ve already received their money, they won’t bother and then the credit agencies will have to remove the debt from the record. I’ve been doing this for the past 4 months and have raised my score 60 points.
June 28th, 2009 at 12:30 pm
Gerald
No sorry but it stays on for 7 years.The reason is because it is a credit report. So they get to see how you have payed or NOT PAYED your bills. Thats how it works and it wouldn’t be fair to credtors if they took it right off now would it? Then they couldn’t see how you paid your credit. Good luck…Oh u can get them to put on there that u did pay it but it will still show your default time.I see people have told u how…
June 30th, 2009 at 11:44 pm
Jorge
It only shows paid, and it still really hurts your score– especially numerous ones.
I will say, though, once they are paid you should do disputes with all three credit bureaus claiming that the collection agencies agreed to delete the account when paid in full. About 50% of the time, you can be successful and have them deleted even though they are valid IF they are paid– I guess the agencies dont really care as long as they already got their money. It really works and it makes a great improvement in your score.
July 4th, 2009 at 10:09 am
Julio
NO.You can have them marked paid but they will stay on you r credit bureau for 7 years from the date of default. The downside is that the collector can continue to update the credit bureau. That can affect the date that it falls off the credit bureau.Keep every thing up to date and on time to help minimize the effect. There are ways to have it removed early. E mail me if you have any
July 5th, 2009 at 1:44 am
Charlie
There is a time frame for how long items such as collections and late payments, leins, etc stay on your report, it can be found at the time below. Even if an account is paid off it will continue to work against you for however many years that particular item is reported. See the link below