collection account and credit score

[alyssamarie]

I have a paid collection on my report, and I know that paid collections look basically just as bad as unpaid but I've heard that after time the impact on your credit score lessens. What date does that go by, the date that it was placed for colleciton or the date that it was paid? My collection account was placed on 08/20/2012 but wasn't paid/closed until 06/11/2013. 

I just started the process of sending GW letters, not sure if I'll have any luck but I don't know what else to do to get this off of my report! When I paid it last year I didn't have time to negotiate or ask for a PFD (and I also wasn't really aware of the impact it would have, it was before I knew anything about credit), I just had to pay it off to get approved for a new apartment. 

So basically my questions are how long does it take for the impact to lesson (and by how much will it lessen), what date do they go by, and is there anything else I can do besides sending GW letters? 

Thanks in advance!

[randyrhodes]

Usually around 2 years after it was placed...ir the date of first delinquency. if its a medical collection you may be able to use HIPAA to get it removed since its paid.

[guiness56]

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@alyssamarie wrote:

I have a paid collection on my report, and I know that paid collections look basically just as bad as unpaid but I've heard that after time the impact on your credit score lessens. What date does that go by, the date that it was placed for colleciton or the date that it was paid? My collection account was placed on 08/20/2012 but wasn't paid/closed until 06/11/2013. 

I just started the process of sending GW letters, not sure if I'll have any luck but I don't know what else to do to get this off of my report! When I paid it last year I didn't have time to negotiate or ask for a PFD (and I also wasn't really aware of the impact it would have, it was before I knew anything about credit), I just had to pay it off to get approved for a new apartment. 

So basically my questions are how long does it take for the impact to lesson (and by how much will it lessen), what date do they go by, and is there anything else I can do besides sending GW letters? 

Thanks in advance!

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Collections, paid or unpaid, do lose some impact over time but will hurt you for the entire 7 years.

I would keep sending GW letters.  Find someone else in the company to send them to.

HIPAA is for paid collections to the OC. 

[alyssamarie]

Okay, thanks. It's not medical anyways.

I'm going to keep trying with the GW for a while, it's through National Credit Systems. I've also read that you can sometimes have luck requesting debt validation even after it has been paid? I read a few examples online saying that you can dispute it with the CA and then on your credit report if they don't respond? Is that actually a good idea to try, or are there any negative outcomes? I'm just trying to figure out everything that I can, I don't want this report on my credit until 2019!

[guiness56]

They don't have to respond to a DV so, no, disputing it with the CRAs would not be a valid reason.