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On my Experian credit report, the collection agency is showing on there states it was open on May 2008, and status is KD still open till this day. Could I have Experian remove this from my report or do I have to wait 7 yrs from May 2008?
Collectors on my Credit Report
Usually negative items remain on your credit report for 7 years from the date of first default. You can contact with the collection agency and negotiate with them. You may try to settle the debts with them and make a written request to them to update your account status as “Paid-as-settled†after repaying the debt. You may also request them to remove this item from your credit report. But it depends on their discretion whether or not to accept your request.
Collectors on my Credit Report
Or I can wait out the 7 yrs for it to be removed from my credit report correct?
Collectors on my Credit Report
No, you will have to wait for next 4 years from now to remove this item from your credit report.