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What happens with Delinquent Accounts on my credit report?

How long does a negative account stay on your credit report once it has been paid off?

  • I have recently paid off some negative accounts on my report and was wondering how long or what happens to your credit standings once the account is paid?

  • Answer:

    If you paid the debt without negotiating removal from your credit report, then the company has every right to report it for the next 7 years. When paying off a collection or a bad debt, be sure to negotiate complete removal from your credit report, or for an unrated account. The other option that you have is to contact all three bureaus and dispute the information... BUT you have to have the documentation to back up your dispute.. It's smart to get a copy of your report any how, to double check for accuracy. Go to www.annualcreditreport.com and pull your reports, the individual bureaus will have information on disputing credit report inaccuracies.

Authenti... at Yahoo! Answers Visit the source

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Other answers

takes 7 years from the date u paid them if full

shorty21

I heard that it was 7 long years, but I don't know for sure.

Straight-Up

You should have gotten in writing that they would remove it if you paid it off - unfortunately, now it will take another 7 years before it is removed.

downinmn

As he other answer stated it can take 7 years, however there is more to the story. 35% of your score is your payment history, which you will begin to repair know that the neg accounts are done. 30% of your score is the amounts you owe. This has gone up since you paid these accounts off. Check your credit report and ensure that the coompanies reported these accounts paid off. If they are collection agencies than ask the agencies if they will remove the accout from your credit report. Some will some will not, worth a shot. Keep in mind check all three Transunion, Equifax, and Experian. They may not be on all three. It cost them money to report you A few books that are great resources is Credit Repair by nolo and Money Troubles By NOLO. I am also a certified credit counselor and if you have any questions you would like me to answer feel free to e-mail me at [email protected]

Troy H

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