Midland deletes automatically if the account is 2 years old. Portfolio deletes automatically after your payment is processed for 30 days. Neither one makes you pay in full if you don’t have it. I’ve dealt with them both personally. I sent a pfd through the mail to another collection company offering full payment and they accepted and gave me a pay by date and deleted after I paid.
Starting Score: 494 503 521
Effective October 11, 2016:
We have updated our credit reporting practices. As a result of these updates we will stop credit reporting on accounts that are both:
- Paid in Full or Paid in Full for less than the full balance; and
- More than 2 years old based on time since the date of delinquency
NOTE: We are required to delete our credit reporting trade line 7 years after the original delinquency date regardless of the paid status. Welcome to the forums and good luck on your new house down the road!
@Anonymous wrote:
Do you think Midland delete earlier than two years if paid in full? That is great news to hear Midland and pfa will delete completely from my credit report if I pay them. Especially since those are the accounts impacting my credit score dramatically since I don't have much positive history(just got a credit card with 1 positive payment so far) so with minimal credit history having negative items drive my score way down. Thank you for your response.
I want a house loan soon. My rent has been reported to my TU report and there's a year of positive history. Although it will show up on my report, it will not increase my fico 2, 4, or 5 score. But I will have a active account for a year for when I eventually do apply for a loan. Hopefully in the next 6 months.
The fact that they are deleting and they don’t have to I don’t feel they will delete early no matter what but you can always try and come back and let us know for future references. Good Luck!!
@Anonymous wrote:
Do I need it in writing from those two collection agencies since they already say they will pfd?
You do not need it in writing and no one is saying pay them hoping they will delete early you can just call and ask if they will delete early but like i stated early I don’t believe they will since they don’t have to delete early at all.