Collection Accounts

Submitted by Anonymous (not verified) on Sat, 01/09/2010 - 00:38

Hey everybody just have a quick question to which I've been unable to find an answer on. I have been working on my credit for two months now and after a visit with my broker I was excited to find out that I'm just shy of approval by 28 points. Since then I have successfully "paid to delete" two collection accounts that were reported about four months ago totaling over $600.00. I know it varies greatly but how much do collection accounts really affect your score? Think I'll get the 28 points? Thanks in advance...

Hi docjmartin

A pay-for-delete for a debt of $600 should work like charm when it comes to your credit score. How much exactly it would increase your score, I am not sure about it but as far as my knowledge goes, you should get the 28 points that you are shy of.

Sat, 01/09/2010 - 09:34 Permalink

I had an outstanding medical bill for a doctor visit in September 2009. The insurance did not initially pay it as the doctor's billing office sent the bill to the insurance with an incorrect member id. It was unpaid. They sent me a followup letter which I did not receive as I moved after that. In Feb 2010 they sent it to a collection agency. Only then I knew about it and spoke to them and found that they provided a wrong member id in the bill and get it rectified and bill the insurance again. Then the Insurance paid it in March. But my credit report shows that the bill was in collections and it is "Paid, Closed" and it also shows the Collection Agency in the report. Is there any way I can get this item deleted from my credit report.

Mon, 05/17/2010 - 15:40 Permalink
4myboys (not verified)

Hey docjmartin88240 -

I am in a similar situation so i was just curious....the pay for deletes that you mentioned....were the accounts with a collection agency? If so is the original creditor still showing derogatory/negative credit on your credit report? Thanks

Mon, 05/24/2010 - 17:23 Permalink


If the original creditor had entered the derogatory marks before handing over the debt to the colelction agency, those will stay on your credit report for 7 years. However, when a debt is handed over to a collection agency, the creditor will no longer be able to enter any new derogatory mark on your credit report.



Wed, 05/26/2010 - 12:37 Permalink
Rich W. (not verified)

Life Happens. My mortgagor needs a letter explaining the circumstances of verbatim: "Written signed explanation for adverse credit and all inquiries for borrower explaining circumstances resulting in "charge-off" of Bank of America." Is this not two or three different things as I read it?

Sat, 07/09/2011 - 19:56 Permalink