If a person has a collection and makes arrangements to give payments or pay the total sum, will it be taken of

Question

Will the collection be taken of the credit report when payed or if giving payments? or Will it still stay for seven years?

Answer 1

The item will stay on your report for 7 years. It will show paid though so it is better than owing the company since your debt to credit availabilty ratio will be lower and your recent history will show that you are attempting to correct your previous mistakes. The credit companies look at recent history more than past history.