Credit Report - AW and Question

uncreatedsnow · March 2014

I'm pretty excited because just a few years ago I was afraid to open my mail and only paid what I could when I thought about it instead of attacking my debt and moving on. So in the last year I've raised my Credit Score by 58 points which makes me ecstatic! It's by no means stellar but it is moving in the right direction which makes me happy.

I have two Collections on there though(both paid, both medical bills I didn't realize I had from lab work). One is for only $12 and the other is $142. Is there any chance of getting either of those off of there or do I just have to wait until they drop off in a few years? I'm not disputing them or anything, they are debts that i incurred that went to collections, but I was curious since the one is SO little if there was a chance I could do anything about it?

ta78 · March 2014

You have to wait it out, how long ago did you pay them? They say it takes 5 years or something like that, but there is a chance they could drop off a little earlier. Either way.. it's worth it to have them paid and just wait and not having them on there will help your credit tremendously.

emily1004 · March 2014

I don't want to make you feel bad, because you worked so hard to get your credit score up and that is really wonderful. But, when you paid the collection accounts, you should of negotiated a "Pay for delete."

Hopefully you never have another collection on your credit report again, but if you do, try this method. Unfortunately now, you're going to have to wait it out for 7 years since the last payment/activity on the account. It's possible it will drop off before that, but don't count on it. Just make sure you keep proof of what you paid off.

Keep up the good work!

Edit: Make sure you keep an eye on those accounts on your credit report. You CAN dispute any incorrect information, if there is any. Example, wrong dates, amount, etc. If it is still on your credit report for longer than seven years, you can also have that deleted.

uncreatedsnow · March 2014

Thanks ladies, I didn't figure there was anything I could do now. The one was paid 2 years ago and the other was more recent.

@Emily No worries, now I know. I should have asked BEFORE paying lol. Thanks for the info though!

short+sassy · March 2014

I would still try to get them off your report. You will need to write letters to all the credit agencies for each one and request they be taken off your report. There are a number of sample letters you can find online. The benefit of doing this is, although they are validly on your report, if the collection agencies don't dispute it or don't dispute it within the time frame, the credit agencies will drop them off your report. Doesn't hurt to try!

Otherwise, they can take up to 7 years from the last activity to totally drop off the report. However, they older they become, the less they impact your score.

emily1004 · March 2014

short+sassy said:

I would still try to get them off your report. You will need to write letters to all the credit agencies for each one and request they be taken off your report. There are a number of sample letters you can find online. The benefit of doing this is, although they are validly on your report, if the collection agencies don't dispute it or don't dispute it within the time frame, the credit agencies will drop them off your report. Doesn't hurt to try!

Otherwise, they can take up to 7 years from the last activity to totally drop off the report. However, they older they become, the less they impact your score.

DO NOT DO THAT! That is fraud. We deal with people and the credit reporting agencies at our office every day. You cannot submit a dispute that is untrue. They CAN and WILL sue you if they find out you lied.

Credit Report - AW and Question

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