If I pay everything I owe on a card that has gone to collections, will it be taken off my credit report?

Question

I paid off a debt in full and I was told by the collector that no one would know about the debt after it was paid, but it is still on my credit report. It has been over 6 months.

Answer 1

The collector lied. The debt record and your failure to pay until it went to collections will be part of your credit record for 3 years or more depending on your location and the kind of debt.

Answer 2

after seven years. the only way to get it off permanently is to pay it to a zero balance, that is when the clock starts ticking. One of the gross misconceptions about owing debt is that if you ignore it, after 7 years it will just go away. that is not true. The real truth is that the collection agencies continue to sell it and with each sale, the new agency adds its fees, etc until eventually it is huge and goes to a law office so a judgment can be issued and property can be attached or a garnishment on wages can occur. Of course, anything that is inaccurate can and should be disputed with the credit bureau(you may get a copy of your credit report free once a year @ www.annualcreditreport.com) and you can dispute it right on line there. Pay the debts down to zero (NEVER pay with a check--always a money order and keep good records) and once it is at zero it will eventually drop off the credit report for good. How do I know all this??? It is my JOB. I work as a credit counselor. Anyone who wants or needs more info about credit can certainly get it for free at our website www.moneymanagement.org or you can call us. we are open 24/7

Answer 3

Of course, the collector handed you a line of hogwash. Once you have paid a debt, it will be marked as paid in your credit file, and then will remain there for seven years until it drops off due to age. It is part of your credit history, and belongs there for seven years.

Answer 4

Items stay on your report for at least 7 years. The report might show the debt was paid, but it would still show it went to collection and was multiple months overdue.

Answer 5

That is NOT true. Paying a debt does not make all record of it disapear.

It will affect your credit score for many years.

The best way to fix it is to add good information to help offset the bad. Make sure you pay ALL your bills on time from now on.

A collection agency cannot (and will not) remove all record of a debt. That is just silly.

Answer 6

Unless you have something in writing, your proabley out of luck, most collectors tell you if you pay within 30 days it wont show, but if your making payments, it should show paid but as a paid collection account, this happned to me

Answer 7

My impression was that this sort of thing stays on your credit report for up to 7 years, but that it hurts you less and less as times goes by...Anyway, if you really feel it should not still be on your report, dispute it.

Answer 8

The report should have been amended. Call the reporting agency and complain, then send a letter. Call the card company, too. with a copy of the letter. Then call the local office of the consumer protection agency in your area.

Answer 9

The record will remain for up to 7 years. What you have to watch is that they record it as finally paid. Some companies won't bother with that little fact and you may have to challenge the record. KEEP YOUR RECEIPTS.

Answer 10

YOU NEED TO CALL THEM AND HAVE THEM SEND YOU A LETTER SAYING THE DEBT HAS BEEN PAID AND TO TAKE IT OF YOU CREDIT REPORT IF THEY DON'T YOU CAN DO IT YOUR SELF WITH THE LETTER STATING THE DEBT HAS BEEN PAID BY CONTACTING THE CREDIT AGENCY ITS SHOWING UP ON I.E. TRANS UNION EQUINOX ,EXPERION