Sunday, October 11, 2009

Is there any easy way to remove a collection account from my credit report?

I want to know if there is any way to remove a collection account from my credit. I already paid the account over a year ago and it shows as paid on my credit report but i was wondering if it was possible to remove it completly so that i cant even see it on my credit. Also will it affect my credit if it is remove? If so, in a good or bad way?

Is there any easy way to remove a collection account from my credit report?
I've answered this in detail many times, so scan through my previous answers.





There are only two ways to get an item removed from your credit report.





1) The creditor must remove it himself.


2) The creditor fails to respond to a dispute investigation.





So here's the problem You paid the collection agent already, so you have now lost all leverage over him to remove it himself. I've stated many times that you should NEVER pay a collection debt unless they agree IN WRITING to delete it from your credit report once it's been paid. Having it show "paid" does not delete information about it being in collections, late payments, or charge offs.





At this point, you could call them and ask politely if they would consider helping you out with your credit by deleting it. This rarely ever happens though. Collection agents don't give a hoot about you or your credit....they want your money!





So follow the advice given already...file a dispute with the credit bureau and hope the collection agency is so incompetent that they lost your files, or don't respond back.
Reply:The best way is to get a copy of the credit report and then challenge it online with a dispute. Doesn't really matter what your grounds are, the credit agency will do the work for you after you say you want it done. They will have 30 days to respond or the credit bureau has to take it off. And if you succeed you will see your credit score go up. Smaller accounts are easier than larger accounts. Big companies have a dept to handle such requests. Smaller companies can't afford it, but I try at least once a year to get something off.
Reply:The only thing that can be removed from your credit report are items that are not correct.





You can dispute your collection with the credit bureaus and they have 30-days to prove that the information is correct or they have to remove it.





The problem in your case is that the collection is correct. That being said, it will continue to show on your credit for 7-years after the date showing it as paid.
Reply:I think the only way to get one removed is if it was added falsely. If you truly owed the amount, I think it stays on for a few years but I don't remember how long.
Reply:unless it was a mistake it will take three years to come off your report


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