Collection Agencies and Credit Report

by | Sep 27, 2022 | Uncategorized

How can You Remove Collection Agencies fromYour Credit Report?

Collection accounts accurately reported remain on your credit report for seven years from the date the original account has gone past due.

 Paying off the collection account

Paying off the collection accounts will not remove them from your credit report.  The report will note that it is paid, which is helpful if you are borrowing or purchasing a home.

A collection account will be automatically removed in seven years after the original account went delinquent.

The original account’s date is the date that your account becomes 30 days late.  The first month the late payment starts will be the starting point of the 7-year period.

 Making a payment doesn’t reset the timeline for when the account will be deleted from your credit report.

 Statute of Limitation

 All States are different.  So pay attention to the Statue of limitation