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Collecion ; How long to clear

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Anonymous
Not applicable

Collecion ; How long to clear

I have had a credit deliquency (collection) on my Experian credit report for over 3 years. This collection was paid in full about 3 months ago., including a letter of payment and invoice from the creditor; However the collection is still showing on my credit reports, how can I clear this 100% it seems that they can cause damage to your credit report but can't clear your credit report., this is really a pain..., 

 

help help, and thanks...

Message 1 of 11
10 REPLIES 10
Anonymous
Not applicable

Re: Collecion ; How long to clear

If the collection is paid there is no leverage you have  to pay for delete. At this point you can send a good will letter to remove the collection. Collections paid or unpaid result in the same damage. However  the older it is the less damage it has. The collection can remain for 7.5 years from the DOFD. Try to Goodwill. Good luck!

Message 2 of 11
Anonymous
Not applicable

Re: Collecion ; How long to clear

Thanks, were can I request Goodwill removal ?


@Anonymous wrote:

If the collection is paid there is no leverage you have  to pay for delete. At this point you can send a good will letter to remove the collection. Collections paid or unpaid result in the same damage. However  the older it is the less damage it has. The collection can remain for 7.5 years from the DOFD. Try to Goodwill. Good luck!


 

Message 3 of 11
Anonymous
Not applicable

Re: Collecion ; How long to clear

Also how to delete ? , seems like they make it difficult to clear up your credit history.., but easy to damage it without any clear solutions for the community....

Message 4 of 11
Lemmus
Established Contributor

Re: Collecion ; How long to clear

...a paid collection account can remain on your CRA reports for up to 7.5 years ...a PIF collection item does much less damage to your score than an unpaid one ...having paid the account already, you have no leverage with the CA to request they delete it through a PFD ...all you can do at this point is write them A Good Will letter ...there are many samples of such on this forum if you search for them ...hth


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Message 5 of 11
elim
Senior Contributor

Re: Collecion ; How long to clear

welcome to our painful world.

is the collection reporting "paid as agreed" on your reports? if so... that helps. if not, you can dispute it now and sometimes they remove it rather than doing the work to mark it paid(happened to me).

 

as far as good-will letters... i look at it like fishing. send em out until they remove it (and sometimes they never do)

 

best of luck

Message 6 of 11
MarineVietVet
Moderator Emeritus

Re: Collecion ; How long to clear


@Lemmus wrote:

...a paid collection account can remain on your CRA reports for up to 7.5 years ...a PIF collection item does much less damage to your score than an unpaid one ...having paid the account already, you have no leverage with the CA to request they delete it through a PFD ...all you can do at this point is write them A Good Will letter ...there are many samples of such on this forum if you search for them ...hth


It doesn't matter if it's paid or not or what the original balance was. Scoring looks at only the reporting of a collection.

 

Lenders might look at a paid collection differently but not scoring.

Message 7 of 11
MarineVietVet
Moderator Emeritus

Re: Collecion ; How long to clear


@elim wrote:

welcome to our painful world.

is the collection reporting "paid as agreed" on your reports? if so... that helps. if not, you can dispute it now and sometimes they remove it rather than doing the work to mark it paid(happened to me).

 

as far as good-will letters... i look at it like fishing. send em out until they remove it (and sometimes they never do)

 

best of luck


It doesn't help a score whether a collection is marked paid or not. The damage is the same unfortunately.

 

What would be the basis for a dispute? You should only dispute information you truly feel to be incorrect; not just beause it hurts your score.

Message 8 of 11
Anonymous
Not applicable

Re: Collecion ; How long to clear

Was looking at your beginning score in the 400s and now youre at 670-700s..... any tips on how to acheieve that?  I have just recently (3months) started working on my credit

Message 9 of 11
Lemmus
Established Contributor

Re: Collecion ; How long to clear

...thank you for the correction MVV ...I PIF'd a debt and my score jumped, I assumed it was the PIF ...looking back at it now I see it was because it was still reporting a balance and a credit line ...the PIF resulted in lowering my utilization at the time and that would appear to be the reason instead.


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Last HP: 11/04/15 | myFico 3B Jun 10 '15:FICO8 EQ - 752 | TU - 763 | EX - 750
Message 10 of 11
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