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Should a PAID collection still show as derogatory?

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Anonymous
Not applicable

Should a PAID collection still show as derogatory?

I have 7 collection accounts that I have paid off and they are showing a ZERO balance, however, on Status on my credit report, this still shows as derogatory. Is this accurate?  Also, does this affect my credit score?

Message 1 of 4
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Shogun
Moderator Emeritus

Re: Should a PAID collection still show as derogatory?

Yes it can still stay on your CR and is still a major derogatory.  It was a collection and is still marked as such, only paid.  You need to start the GW process and see if you can get some of them off.

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Message 2 of 4
Anonymous
Not applicable

Re: Should a PAID collection still show as derogatory?

Could you share more about the GW process and what that involves?

 

thanks

Message 3 of 4
Jutz
Valued Contributor

Re: Should a PAID collection still show as derogatory?


@Anonymous wrote:

Could you share more about the GW process and what that involves?

 

thanks


this should answer everything you need for GW: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

 

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