2007-03-06 03:20:48 · 7 answers · asked by michelle 2 in Business & Finance ➔ Credit
If they are paid they shouldn't be on your credit score.
2007-03-06 03:23:46 · answer #1 · answered by dtwladyhawk 6 · 0⤊ 1⤋
Once you pay off a medical collection account you can make a request to the collection department to remove this. They are not required by law. Sometimes, if you tell them you are trying to buy a home or car, they will remove the file. The best way to handle a collection account is to ask first do you delete? Some collectors will work with you if you seem to know some knowledge of credit reporting. Explain your situation at the time and ask them to help you correct the matter on the basis that you pay off the debt in full.
2007-03-06 12:58:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Hi!
I can't say this too many times..a paid collection account is no better than a unpaid one. None. Zilch. Nada. No difference.
Now..if you have made the decision to pay a debt..as part of the deal (Get it in writng) that after you pay it..they will remove it from your report altogether.
Even worse...by paying it you have started the seven year clock all over again..it's going to be on your report for another seven years. It's not fair..but that's the way the system is.
2007-03-06 12:06:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You closing them will NOT remove them from the credit bureau report. The lending agency will still provide and document that . . . Only the status will change from open to closed. Others will still see the account and the rating.
The credit score improves when your debt is lowered or your income increases as a large part of the score is the debt to income ratio.
2007-03-06 11:31:13 · answer #4 · answered by kate 7 · 0⤊ 0⤋
Collections remain on your credit for 7-years after they are reported weather you pay them or not. The only thing that would change is that they will show as paid with $0 balance.
2007-03-06 11:29:39 · answer #5 · answered by ? 7 · 1⤊ 0⤋
I wish that it would! however it will not. Listen, I've fought my own battles to rebuild my credit score and it take knowledge! You can do it yourself with what you'll learn at:
http://www.thecreditrepairmanual.com
2007-03-07 12:15:42 · answer #6 · answered by Anonymous · 0⤊ 0⤋
buy things and then pay them off right away and that should help.. but it will take somethime like 6 months to a year.
2007-03-06 11:50:21 · answer #7 · answered by shorty21 5 · 0⤊ 0⤋