The ONLY ways to get them removed from your credit reports before 7 years is the following:
Whomever put the account on your credit report removes it.
or
A dispute finds it invalid and the credit reporting agency removes it.
no other ways to get it off before it drops off on its own.
If these are UNpaid collections then whomever put in on there isn't just going to say ok when you ask them to delete it. They will be looking for their money. Putting a ding on the CR is their leverage...
If they are not valid debts then you can dispute them and if the CA/OC can not validate the debt then they will be forced to remove it off - paid or unpaid. If its a valid debt then I'd suggest she do a PFD. Don't offer the full amount (otherwise you have no wiggle room) and always do it in writting. I'd say "if I pay 50% would you delete?" if they say no, go up. Never go over 100% owed in order to get a delete!
If you pay for it, its going to remain on the credit report and it won't affect her score - a collection is a collection. But if its paid then you can try to GW them. Some Collection agencies will delete if the OC pulls the account from them - so if its a new collection and it hasn't been sold then you could try that route.
If all else fails then you could try a dispute and hope that they dont' have their i's dotted and t's crossed and don't validate - I got lucky that way and had 3 collections removed, but then again they were all small amounts so the CA probably said it wasn't worth it for them to validate it.
good luck
@Anonymous wrote:Helping my 22 y/o niece fix her credit - she has 4 accounts in collections with balances - what is the consequence of not paying off these balances and is there anyway to get them removed from her credit reports prior to 7 years?
CLM. I would first try to do a PFD (pay for delete). I was successful in getting 13 collections removed from my credit in 3 years. I sent companies that I still owed the money a nice letter explaining what happened with my finances and offered them a sum of money if they would remove the item from my credit. A few of them jumped at the opportunity to collect the money, and kept their promise. I would get everything in writing first, because once you send that money in you have zero leverage. I sent goodwill letters to the rest. The only company that I've made no progress with is Hunter Warfield. Gonna let that one age, but I paid it anyway. Hope this helps. Send me a private message if you'd like to know more!