Best way to get a debt removed from your credit report?

attakid101

I'm an irresponsible jackass and I let a bill go into collections. It's a smallish debt that I could pay in full today.



However, a couple years back my mother-in-law was in a similar situation. She called the collection agency and paid the debt with the understanding that it would be removed from her credit report, subsequently improving her credit score. But that didn't happen. As far as the collection agency is concerned the debt is paid, but it's still on her credit report and her credit score is still negatively impacted.



Huh? 

VGS_captmorgandrinker

I have no idea. I had something similar; a debt from my youth that had since been paid, but was on my credit report when I went to go get my mortgage. I gave the paperwork showing it was paid in full to my loan officer, and he took care of it for me.

buttheadrulesagain

From Transunion's website:



Question: How Long Does Negative Information Stay on My Credit Report?

Answer:

Typically, the negative information on your credit report tends to fall off after 7 years, or 10 if you've been through bankruptcy. Positive information remains on your report for an average of 10 years from the day its corresponding account is closed. This information applies to loans like mortgages and car loans, the types of agreements that have fixed terms on the number of years for repayment. For revolving accounts, such as credit cards, your positive history will stay on your report for as long as the account is active.



https://www.transunion.com/frequently-asked-credit-questions

arch_8ngel

If you ever make a deal like that with a collection agency ALWAYS get the terms in writing before you pay.



Check with the deadbeats over at creditboards if you want "pro tips" on how to actually deal with collections.

Jmason333

I had to deal with collections crap for years thanks to an ex who was credit-card happy. She had a habit of applying for, getting, and maxing out cards before I ever knew about them. It took me years to get it all sorted out. One thing to keep in mind is that collection companies aren't providing a service for the people you owed the debt to. They have purchased your debt. Sometimes they will even sell your debt off to other collection companies. If you work out a deal on a debt, get it in writing and follow up on it. I had one company actually sell off debt that I had already paid off to them, and then I had to jump through hoops to prove to the new company that I had paid for it in full to the previous company. Always follow up and make sure it gets removed off your credit report after being paid. If it's still on there, hound them until they remove it.

Buyatari

First get all 3 credit reports. Then dispute 3-4 bad charges at a time with each reporting agency "not my account". Companies must respond within a certain time period or they are removed. Many don't bother. Repeat process until they are gone.