Question Regarding Paying a Collection Account

[Anonymous]

Let me start by saying that I just stumbled upon this forum today, and I'm glad I did. I'm 24, new to building credit, but really enjoying the process. I started with a credit score of 590 late  last year, and am up to 655 today. Anyway, today I ordered a 3-bureau report, and upon looking at it I realized that I have a collection account showing "Open" on March 1st 2011, and "Closed" on April 1st 2011. The initial debt was with Sprint, showing on my Equifax report, and then given to Convergent Outsourcing which appeared only on my Experian report. I called Convergent and paid off the debt, which they told me would be positively reflected on my future credit reports beginning in 30-120 days. I guess my questions are: Will my Sprint debt be cleared from Equifax by having paid off the collection debt with Convergent Outsourcing? Will Convergent Outsourcing actually submit my debt as paid off to the Credit Bureaus? Should I even have paid off a debt from two years ago? Any advice is appreciated.

Thanks, David

[awdsmama]

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@Anonymous wrote:

Let me start by saying that I just stumbled upon this forum today, and I'm glad I did. I'm 24, new to building credit, but really enjoying the process. I started with a credit score of 590 late  last year, and am up to 655 today. Anyway, today I ordered a 3-bureau report, and upon looking at it I realized that I have a collection account showing "Open" on March 1st 2011, and "Closed" on April 1st 2011. The initial debt was with Sprint, showing on my Equifax report, and then given to Convergent Outsourcing which appeared only on my Experian report. I called Convergent and paid off the debt, which they told me would be positively reflected on my future credit reports beginning in 30-120 days. I guess my questions are: Will my Sprint debt be cleared from Equifax by having paid off the collection debt with Convergent Outsourcing? Will Convergent Outsourcing actually submit my debt as paid off to the Credit Bureaus? Should I even have paid off a debt from two years ago? Any advice is appreciated.

Thanks, David

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If Sprint is reporting on your reports, no they will not come off even if you pay the debt.

Convergent SHOULD update your account as "paid" status, it can take the bureaus 30-90 days to update this. 

Paying a collection will not help your FICO score, but it does look and feel good to take care of it doesn't it!

What I would do now is start GW'ing (goodwill'ing) Convergent and Sprint, search on these forums and you'll find lots of sample wording to use.   You may get lucky and get them to delete! 

Best of luck and welcome!

[guiness56]

The CA has to notify Sprint the bill is paid.  Sprint should then reflect a 0 balance.

Paying the debt will not makie them come off your reports.  You can start sending GW letters to each to ask for the removal of the TL.