Does removing old paid collection items on credit improve score?
Monday, July 19th, 2010 at
7:08 am
Question by Travis: Does removing old paid collection items on credit improve score?
I have several small balance collection accounts that have been paid (and show paid) showing on my credit report. Is it possible to remove them and would it improve my credit score?
Best answer:
Answer by lary
check old yahoo answers for good information
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Tagged with: collection • Credit • Improve • items • paid • removing • Score
Filed under: Credit Score
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No
It won’t do a thing
Also, they will stay there for 7.5 years
if you didnt get pay for delete agreements before you paid them then they will stay there until the 7 yrs is over.
Absolutely YES! Now that you have paid your debts, all you need to do is purchase a copy of your credit report (online) WITH SCORE. Next, use the online feature “dispute this account” to initiate an investigation of the debt. %99 of the time, the debtor never bothers to respond/dispute the account because it is not worth their response time. Their efforts are best spent working to collect on truly bad accounts with high amounts owed. When a company does not respond within 30 days, the negative information is automatically removed from your credit report. It’s beautiful! Of course, if the company later disputes this (which is rare), and can prove the negative information is true the worst that can happen is they put it back on your report. Again, this takes way too much time and effort when dealing with someone who has already paid their account off – so dispute away, it’s free to do so! You only pay for the credit report with score.
Those paid derogatory items will remain for the balance of the 7 year reporting period. They are legitimate items and you won’t be able to get them removed. Paying them did not improve your score. However, creditors look at your whole credit report, not just the score. Paid old debt always looks better.
Only way to have this issue solved is if it been over seven years on the report. If you meet this criteria then you can write a letter and request them to be removed these paid bills. Once they are removed you will seen the results in about 60 days.
Actually paying them DID improve your score…not as much as if it was never there but something is better than nothing. You can dispute them with the 3 credit reporting agencies but if they are legitimate debt they are not just going to disappear if you dispute them.