An old collection on my report

[JDM215]

I have an old collection account on my credit report that's probably about 2-3 years old. If I settle with the agency or just pay the balance outright, does that make the entry stay on my credit longer? Basically, does the clock reset on the account? At this point, the damage is done correct? Does settling or paying it off do me more harm at this point than good? Thx

[reckedhim]

You should send them a PFD letter. If they agree and you pay, they will remove it from your credit reports. It will be like it never happened.

[DiabolicallyRandom]

I agree with reckedhim, you should try to PFD.  Paying an old collection wont keep it on your reports any longer. Its exlusion date will still be based on the date of first delinquency.

[JDM215]

I have read that and I have prepared a letter but I never sent it. OK, I will mail it today. Thanks for your advice.