Can I get a paid collection removed from my credit report?

[alyssamarie]

Before I knew anything (or cared at all) about credit, I let an account with my first apartment complex get sent to collections. Having no credit, I paid an $800 (one months rent) deposit and a non-fundable $300 pet deposit. I didn't repaint after moving out or clean well, but otherwise the apartment was in good condition so I wasn't worried about it because I thought my deposit was more than enough to cover any "damages." What a wake up call I got when I was hit with an $1100 bill. Being young and naive, I didn't pay the remaining $350 because I didn't think it was fair, so of course it got sent to collections. I now know a lot better than to let something like this happen again.

I paid it off this summer, and on my TU report it says it'll be on there until 06/2019. 

It's through National Credit Systems; Placed for collection 08/20/2012, Responsibility: joint account; Account Type: open account; Loan Type: Collection Agency; Balance: $0; Date Updated 06/21/2013; Last Payment Made 06/11/2013; Original Amount: $358; Original Creditor: Rent/Leasing

so my questions are:

1) any ideas/suggestions on how to get this off my report before 2019? Is that even possible?

2) how bad does this look and how much will it hurt my score/chances for a loan in the future (like a car loan or mortgage, given 2-4 years)?

I got access to this report from a denial for a Discover application and it also listed my score as 664.

Any info/help is really apprecited!

[myjourney]

Any collections look bad paid or not so I advise you start with GW's 

Good luck

[alyssamarie]

thanks, that's what i figured. I'll have to do some more research about GW because I'm pretty clueless right now!

[myjourney]

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@alyssamarie wrote:

thanks, that's what i figured. I'll have to do some more research about GW because I'm pretty clueless right now!

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http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Sto...

[alyssamarie]

thank you! that's exactly what I need!

[alyssamarie]

Since it is a joint collection account with my husband, can I send one letter asking that it be removed from both our reports or would it be better to send two? If it matters, we weren't married at the time but we are now, I'm not sure if that's relevent at all. 

[alyssamarie]

Does this sound okay? Any suggestions or ideas for improvement?

Dear Sir or Madam:

I am writing in hopes that you would consider removing a joint collection account from (Apartment name), in the amount of ($$$), paid in full on (date) from our credit reports as a gesture of good will.  The charges were incurred after moving out of a shared apartment and were not anticipated. Unfortunately, we could not afford to pay the charges at the time and they were sent to collections.  However, they have since been paid in full. We are young and trying very hard to establish strong habits of financial responsibility, and as a newly married couple and soon to be University graduates, having this collection account removed from our credit reports will help greatly in our efforts of establishing good credit and securing a home loan in the future.  

Thank you for your consideration,

my name (and maiden name) and

Husband's Name

I read to personalize it and keep it short, so that's what I tried to do. Does this sound okay? Also, is there another place that I could cross-post this on to get more feedback? Thanks!

[guiness56]

It sounds fine to me.  And, no, you cannot cross post, sorry.

[alyssamarie]

Okay, thanks! Is sending an email okay, or is a physical letter a better bet? Or should I do both? 

[newmomnewme]

I am not familiar with your CA, but when I send GW letters, I usually send them via e-mail and snail mail. You just need to get it to the right person on the right day. Wait two weeks, then send another round. Check your CRs and keep sending them until you see a change. Best of Luck and Happy Holidays!!!