I want to pay off all of my debt?

Question

I have alot of older debt between 1-4 years old. I have a really awesome paying job now .... if i pay off all of these accounts do they still how up as one day being in collection or delinquint or do they show off as being paid in full..... Thanks for the help im confused

Answer 1

You need to call the numbers that are listed on the collection notices, give them your name and information, and verify with them if the payment is infact taken care of, or needs to be paid. They are usually more than willing to help you give them their money back. :)

Answer 2

Credit reports can show it as paid in full, but the history of the account can say "Late 6 times in 12 months" or such language. So you get the bad with the good. After a few years (sometimes 7 and sometimes not that long) the bad stuff will be removed and you can eventually have a better credit rating/report. Congrats on the awesome paying job!

Answer 3

If you decide to pay off these creditors - don't send any money to anyone until you have a letter confirming the total amount owed and the terms you both agree upon. Make sure the letter states that the debt will be considered paid in full if you pay X amount by such and such date......

No post dated checks, no electronic access to your account....

And make sure you can match up the collection agency to the corresponding original creditor!!!!!

Answer 4

If the accounts are delinquent or in collection already they will stay on your credit report as the same but paid. They will stay on your report 7 years. Have hope though I had terrible credit when I was younger but I can now go to any bank & get pretty much anything I need.

Answer 5

Yes, they will stay on your report for 7 years of the opening date of collection. They will show as paid and a balance of zero, but the collection will still be listed.

Answer 6

Your DTI is what is important. Settle your account by yourself or you could use http://www.fdnsolutions.com