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how long does a collection account stay on credit report?

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sdk66502



Joined: 29 Dec 2006
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Posts: 1



86 Magic Points

Subject: how long does a collection account stay on credit report?
 
Posted on Fri Dec 29, 2006 7:20 pm  

I objected to a Dr's bill as too high and he turned it over to collection agency. How long does an unpaid collection account stay on the crdit report? Forever or seven years?
lim
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Posted on Tue Jan 02, 2007 6:08 pm  

It will remain on your Credit Report for seven years. But if possible do try to get it removed as these unpaid entires negatively affect your score.
lrg
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Subject: write off
 
Posted on Mon Jun 25, 2007 6:07 pm  

can a car loan from 1997 be sold to a collection agency & both be showing on my credit report?
Morningstar

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Posted on Tue Jun 26, 2007 4:51 am  

When did you default on the loan?
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Furgee
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Posted on Wed Mar 19, 2008 9:59 am  

I have a collection unpaid for the past 2 years. I live in Iowa. How long is it going to stay on my report? The CA has ceased calling. Should I dispute the debt? Will that affect my credit score?
shalboa
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Subject: answer to Furgee
 
Posted on Wed May 07, 2008 3:25 pm  

Furgee, yes the unpaid collection will greatly affect your credit score. It will stay on your credit for at least 7 years. Even if they stopped calling, it will still scar your credit. The only way to "dispute" is to pay it off.
Guest







 
Posted on Thu May 08, 2008 12:20 pm  

Hi Furgee

I too agree with shalboa on this issue.
sdchargers_63

sdchargers_63

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1901 Magic Points

Subject: credit
 
Posted on Fri May 09, 2008 2:58 am  

If you have a 'negative' account and you pay it off before the SOL, will it stay on your CR for the 'remaining' time? Can you have it removed BEFORE the SOL?
Justin

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28944 Magic Points

 
Posted on Fri May 09, 2008 6:52 am  

Hi sdchargers_63

I think even if you pay off before SOL, negative information will not get removed from your credit reports. Since negative items remain in the credit report for 7 years, beginning from the date of the delinquency, even if you pay off an old debt it does not necessary increase your score.
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sdchargers_63

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Subject: debt
 
Posted on Fri May 09, 2008 2:16 pm  

It's almost like a 'Catch 22'. All of the Creditors you have want 'you' to "pay debts off ASAP". Ok...you FINALLY pay it off. But..WHY???? If the debt remains on your credit? Paying it off DOESN'T raise your score. I'm not saying I don't have obligations to pay my debts, but, i think 'you' can see my point...just frustrating.
Justin

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28944 Magic Points

 
Posted on Sat May 10, 2008 6:51 am  

Hi sdchargers_63

I too agree with you on this point. But after paying off the debt we can always bargain with the CA to mention the debt as paid in our credit report. Although paying off the debt does not necessarily raise our score, it does not also put us in a more adverse situation.
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CMBV22

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5165 Magic Points

 
Posted on Mon May 19, 2008 6:53 am  

sdchargers_63

Always remember when you are dealing with CAs to list PFD requirements in your written contract. I know I have said this many times but, I have had many listings removed from both my husbands credit and my own. It is no skin off the CAs nose to remove the listing and if you make it clear that no PFD means No $$ for them 9 times out of 10 you get it.
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fireyone



Joined: 26 Feb 2008
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96 Magic Points

 
Posted on Mon May 19, 2008 11:41 am  

I seen you have this reply before and I hope you continue to make them CMB. It is a very good point and people need to be aware that they can do this. Also along with that I would make sure I gotr this in writing before sending an dough. Once they get the money they may not be as eager to help you.
CMBV22

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5165 Magic Points

 
Posted on Mon May 19, 2008 5:51 pm  

YES! everything should be in writing. If you can, do all of your talking through the mail. That way you have proof of everything.
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Free sample letters,
info on paying off payday loans,
and quick credit repair tips.
Pesonalized credit repair advice in the forum:

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http://homecreditrepair.hqforums.net/
sdchargers_63

sdchargers_63

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1901 Magic Points

Subject: cr
 
Posted on Thu May 22, 2008 2:37 am  

I see what you mean. If you have something in writing, you have a bit more 'leverage' when you are dealing with a CA. Makes sense. Now....what about writing a PFD letter, including in it making payments to pay the debt off. Is a PFD still a 'binding contract' THAT way, too?

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