Is it possible to remove a paid collection?

[Nykademus]

Is it possible to have a collection removed from my report after its been paid? I fail to see that I would have any leverage after paying the debt.

Had I known what I know now, I would have offered a PFD.. but.. hindsight and all that.

If it is possible, how?

Thank you!!

[MarineVietVet]

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@Nykademus wrote:

Is it possible to have a collection removed from my report after its been paid? I fail to see that I would have any leverage after paying the debt.

Had I known what I know now, I would have offered a PFD.. but.. hindsight and all that.

If it is possible, how?

Thank you!!

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Hello and welcome to the forums.

Many people have had paid collections and other negative entries removed. You need to send what are called GW (Good Will) letters to the creditor(s) asking them to delete the item. They are under no obligation to do so but it does happen. I would do a search on site for "GW letters" to get a better idea of examples of what to write and how others have fared.

Good luck to you.

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

Credit Scoring 101
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Frequently Requested Threads
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Whats In Your FICO Score

[LIGHTNIN]

FICO scoring see a Paid collection the same as an UNpaid collection. 

If you can get the paid collection removed, then your FICO score could see an increase, especially if it your last collection.

When the first collection hit a CR, it can hurt a FICO score by about 80-100 points.

Collection should hurt less and less over time.

So try using a GW letter, you never know if its going to work, unless you try.

Search the forums here, to see if that CA is GW friendly.

[Nykademus]

Thank you for the information.

I would feel more comfortable with a little leverage.. but then its not good will is it

[MarineVietVet]

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@Nykademus wrote:

Thank you for the information.

I would feel more comfortable with a little leverage.. but then its not good will is it

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You're right. Once it's paid you have no leverage but you can continue to pursue the GW strategy.