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Paying Collections

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A1Credit
Established Contributor

Paying Collections

Hi Everyone,

I have two collection accounts that are reporting on my EQ report only.  My question is if I pay these collections will I run the risk that they will be placed on my other two credit reports also if they update the status to PAID? Thanks for your responses.

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669
Message 1 of 8
7 REPLIES 7
guiness56
Epic Contributor

Re: Paying Collections

Anything is possible.  You do know paying it will not increase your score.  It could actually make it worse by updating to a newer date.

Message 2 of 8
A1Credit
Established Contributor

Re: Paying Collections

Yes, I know but it is my debt and I wanted to pay it off so it would not haunt me later and appear on the other two reports later.  So you think its best to just leave it alone?  The collections are $80 a piece.

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669
Message 3 of 8
Schoolbuskid
Valued Contributor

Re: Paying Collections

It would be best if you DV the CA first and wait and see if they validate or delete. If they validate you send a PFD letter, if they delete then you're done!

Rebuilding and Reducing Debt, is my game plan.
Message 4 of 8
guiness56
Epic Contributor

Re: Paying Collections


@A1Credit wrote:

Yes, I know but it is my debt and I wanted to pay it off so it would not haunt me later and appear on the other two reports later.  So you think its best to just leave it alone?  The collections are $80 a piece.


You can DV but, if your intention is to just pay it, you can jump to the PFD.

Message 5 of 8
A1Credit
Established Contributor

Re: Paying Collections

Thanks guys for all of your suggestions.  I guess I am just afraid that if I pay them in full they will add it to the credit  reports that they are not currently reporting on.  I don't want to see a score drop.  Do they always update when they receive payment? 

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669
Message 6 of 8
guiness56
Epic Contributor

Re: Paying Collections

You can do a Pay for Not Reporting letter.  Tell them you will pay if they do not report.  Same criteria as a PFD.

Message 7 of 8
A1Credit
Established Contributor

Re: Paying Collections

Okay, thanks!

***Gardening 3/29/2018 until 9/25/2018***

FICO 8 Scores: EQ~692 l TU~657 l EX~669
Message 8 of 8
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