How long do collection accounts stay on your credit report? Even after they are paid in full?
2007-03-07 15:25:43 · 5 answers · asked by brittv83 2 in Business & Finance ➔ Credit
If it is for credit cards, it will stay on your report for 7 years from the time you first became 30 days late and never brought the account current leading to the charge off.
If it is for most bank loans it would be 7 years from default.
If it is for medical it would be 7 years from the date of service (day you saw the doc)
Even if you paid a collection agency - they "cannot reage" the reporting statute of limitations !!
A paid negative is just as bad as an unpaid negative.
2007-03-07 15:33:56 · answer #1 · answered by echo 7 · 2⤊ 0⤋
7 years is the general rule. If they are paid in full they don't count against you. If you can't pay in full, call the creditor and ask for a settlement. They will usually take 50% if paid in a set time, like 2 weeks. After the time limit they will not take a settlement. It sitll shows up on your credit report as a settlement but its better than no pay.
2007-03-07 15:30:33 · answer #2 · answered by sweet sue 6 · 0⤊ 0⤋
Derogatory trade lines stay on your credit report for seven years.
After you have paid them off, they should be marked as paid.
2007-03-07 15:29:26 · answer #3 · answered by Ti 7 · 0⤊ 0⤋
can you request immediate removal of derogatory on your credit report once paid off
2016-01-20 15:29:34 · answer #4 · answered by Anonymous · 0⤊ 0⤋
until you dispute them
2007-03-08 00:20:51 · answer #5 · answered by CALIFORNIA GOLD 3 · 0⤊ 0⤋