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.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.