06-21-2012 04:02 PM
Upon payment of the debt, the debt collector is required to report the collection as closed, and the balance under collection as $0.
Deletion based on payment is not required. In fact, it is contrary to the credit reporting guidelines issued by the CRAs.
06-22-2012 05:54 PM
On a FICO standpoint, it doesn't matter if you owe $0 or $10k, the damage is equal. There's nothing that can be done to make a collection a positive account, other than to get it deleted.
Look around in here for "GW letters" and send them one, asking for a deletion.
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