When I pay something in full that was in collections, does it come off my credit report right away, or does it still stay on for 7 years?
2007-08-13 08:41:33 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
It will show as paid and stay for 7-years.
2007-08-13 08:57:39 · answer #1 · answered by ? 7 · 0⤊ 0⤋
If you negociated with them before hand and have it in writting that they will remove it once paid. Then it will take about 30 days for the credit reports to get updated.
If you did not do that, it will remain on there for 7 years from the date of the last delinquency. So if you went delinquent in 7/2005, and paid it off 7/2007. It will be removed after 7/2012. The 7 years does not start over because you paid off the collection.
Either way you need to be sure you have a letter from them stating that it is PAID IN FULL. This is in case it ever crops up in the future you have proof that you paid it.
2007-08-13 09:12:30 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
I am not sure, but if you want a free credit report go to www.annualcreditreport.com
2007-08-13 08:54:19 · answer #3 · answered by Jan C 7 · 0⤊ 0⤋