topic Re: collections accounts at $0 balance in Rebuilding Your Credit

collections accounts at $0 balance

PrinceCorwin — Sun, 02 Jul 2017 13:02:40 GMT

Paid a couple collections accounts on my wife's credit report down to $0 balance. Still reporting as collections accounts with $0 balance on reports. Companies say they don't remove accounts, only update balance. What do we do now?

Re: collections accounts at $0 balance

Anonymous — Sun, 02 Jul 2017 13:24:07 GMT

@PrinceCorwin wrote:
Paid a couple collections accounts on my wife's credit report down to $0 balance. Still reporting as collections accounts with $0 balance on reports. Companies say they don't remove accounts, only update balance. What do we do now?

Unfortunately, collections will stay in your report for up to 7 yrs. Their impact on her credit score will slowly become less significant as time passess. When you say "companies", I'm assuming you mean the collection agencies who took over the defaulted loan? They are not obligated to remove them but some will do it. Perhaps, the collection agencies who has the accounts just aren't as nice.

My personal experience, I had collections as recent as 2013. When I paid them all off in early 2015, I called and asked for letter of removal from them to send to the CRAs and, thankfully, they obliged. Within 6 mos, I had zero collections showing on my report.

You know how they call incessantly to make people pay, maybe turn the table around and keep asking if they will? It's worth a shot, I guess. Otherwise, there's nothing you can really do until they will eventually fall off.

Re: collections accounts at $0 balance

Anonymous — Sun, 02 Jul 2017 15:16:24 GMT

GTC, can you post or pm me the letter you sent out to the CA? I have one paid collection showing up on two of my reports and would love to have it removed. It's from EOS-CCA and was paid in full about 15 months ago. Is not supposed to be removed until 10/2018. Thanks.

Re: collections accounts at $0 balance

Anonymous — Sun, 02 Jul 2017 18:23:37 GMT

In some cases, we can request a "pay for delete". You pay the collection with some agreement that it will be removed from the CRs. (get in writing first if you can). Where the balance has already been paid, it could be a little more challenging to get it removed. A few suggestions; 1. contact the creditor/collector and request that they delete. 2. Dispute with all three CRs. Will only cost you a little time. Good luck!

Re: collections accounts at $0 balance

Anonymous — Mon, 03 Jul 2017 02:47:24 GMT

@Anonymous wrote:
GTC, can you post or pm me the letter you sent out to the CA? I have one paid collection showing up on two of my reports and would love to have it removed. It's from EOS-CCA and was paid in full about 15 months ago. Is not supposed to be removed until 10/2018. Thanks.

I actually just called the collection agency showing up on my report. I didnt' write them a letter although there's an address listed. I had about 3-4 different collection agencies with around 9 delinquent accounts. They sent the letter of removal directly to the CRAs which took about 6 weeks before they started to fal off. I would try to keep calling them and request removal of the paid account. Good luck.

Re: collections accounts at $0 balance

rmduhon — Tue, 04 Jul 2017 11:43:07 GMT

Start a GW campaign for the account asking for removal. Good luck

Re: collections accounts at $0 balance

PrinceCorwin — Tue, 04 Jul 2017 13:38:58 GMT

One of them (Not paid yet) agreed to send a PFD letter. The one with the 0 balance did not. I'll try a GW letter to the CEO, I guess