Can you still establish credit with a record of collections on your report?
116140
get a co-signer to secure your credit card.  they can help you re-build it.  otherwise you have to wait something like 10 years to get the collections to drop off of your report.
245025
A warning first.  If you plan to pay off your debt, GET IT IN WRITING that they will either remove the report from the credit report, or they will change the entry to "paid in full, never late".  \n\nDo not believe them (especially a collection agent) that they will do it without such an agreement.  For $400 they will lie to their mother.\n\nNow, if they follow through with their promise, it doesn't matter what the timeframe is, it will show up as a good report once it's been paid.\n\nFor future reference, the "clock" for reporting debts on your credit report is 7 years from the time the debt occured.  I have also heard several people say that it restarts after a recent activity, but nobody has shown me where in the law it states this.\n\nBelow is the actual law from the Fair Credit Reporting Act.  Now I'm no lawyer but it does appear to state pretty clearly when the "clock" starts.\n\n§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]\n\n(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:\n   (4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.\n      (1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.
787969
Credit bureaus update their records as soon as the info is received.  \n\nIf you are concerned about a particular account you would do better contacting the creditor directly and ask the creditor how often they report your account activity to the credit bureaus.  Some creditors report monthly, some quarterly and some don't report at all.
830111
You have just stumbled into the trap that I have tried warning people about for months now!\n\nThere are only two ways to get a negative item removed from your credit history.\n\n1) The creditor must remove it\n2) The creditor fails to respond to a credit bureau investigation request.\n\nOnce you have paid the creditor, you are going to find it extremely difficult to get them to cooperate in fixing your credit.  \n\nThat is why I warn people who are going to pay off old debts...make the creditor agree IN WRITING to delete the entry once the bill has been paid off.  Don't pay them a dime unless they agree to do it.\n\nNow you are broke, and you still have bad credit.  Is that fair?\n\nAll you can do now is start the dispute process.  Note that even though you paid off this debt, the creditor is only REQUIRED to show that the debt has been paid off, but it will still show reports of late payments, charge offs and collections.  It will still be a negative report. \n\nBut it at least should show the bill is paid.  Failure of the credit to update your credit history is a violation of the Fair Credit Reporting Act.  If they don't update the listing, you can sue them for $1000 in small claims court.\n\nSend a dispute letter to both the credit bureau and the creditor.  But note that it sometimes takes a couple of months for these updates to show up on your report, so you need to be patient.
74830
That depends on what type of debt is causing your bad credit. There are a number of different time frames for items to be removed from your credit report. Inquiries remain on your credit report for 2 years. Delinquencies, collection accounts, charge-off accounts, chapter seven bankruptcy, and paid tax liens remain on your credit report for 7 years. Chapter thirteen bankruptcy remains on your credit report for 10 years. Unpaid tax liens remain on your credit report for 15 years. This information came directly from the credit bureau. If you feel the information on your credit report is too old to still be reported, you should file a dispute with the credit bureau directly.
129335
It's sort of a catch-22.  Most things remain on your credit report for 7 years (such as a late payment).  If it goes to collections (let's say after 3 years) then the 7-years starts over again with that item on your credit report.  However, let's say you realize it after another 2 years, want to stop it from being a negative on your credit report, so you repay it - the collections agency will mark it on your credit report as paid, and it resets for another 7 years!  So, while it helps you to repay it, it hurts you at the same time (if you don't repay it, it will always negatively affect your credit score, even if it doesn't appear on there, and the credit agency can always exercise a lien on any money you make down the road).
1052184
The last advice given is very incorrect. If you pay off the total amount the account will appear as paid in full and closed but if you on pay the setlement amount it will show as a collections account paid and lenders know this is a settlement.\n\nHere is some information that I wrote on an article about this issue. Hope it helps\n\n"How long will collection or other derogatory information stay on your credit report?"\n\nCredit information can and usually stays on a person’s credit report for 7 years. You can use the information below as a reference to guide yourself and figure out how long derogatory information stays on your credit report\n\nGeneral credit information: 7yrs\nCollections: 7yrs from date of last activity\nBankruptcy: 10 yrs\nForeclosure: 12 yrs from the date filed\nGarnishment: 12 yrs from the date or entry or 7 yrs from the date satisfied\nJudgment: 12 yrs from the date or entry or 7 yrs from the date satisfied\nTax lien: 12 yrs from the date or entry or 7 yrs from the date satisfied\nDismissed garnishments, judgments, and tax liens: not reportable\n\nNow that you have this information I’ll give you an example similar to a client. The agent he had worked with before gave him the wrong advice.\n\nLets assume that you had a collection for $1,000 filed against you in December 1998 and you haven’t paid it. It’s now November 2005, so in a few weeks that collection can come off your credit report. (You will probably have to request all three credit bureaus to take it off your credit report). However, you just applied for a loan today and the loan officer tells you that you need to payoff that debt in order to be approved. Since you have the money to pay it off, you do so. Because the date of last activity is now November 2005, the collection will show on your report until November 2012 – another additional 7 years.\n\nNow let assume that this collection was in June 2005 and you pay it off in November 2005 to obtain the loan, this will reduce your credit score. On the other hand if this collection was in September 2005 and you pay it off in November 2005 to obtain the loan, this will actually increase your score. My point is that a collection account that is less than 6 months old and is paid off will be beneficial but if your collection account is more than 6 months old and is paid off this will be detrimental to your credit score.\n\nYou as a consumer can request copies of your credit report from the 3 credit bureaus (although it’s better to get a collective report from all three in one which I can help you with) and dispute information that is incorrect. Incorrect information can be corrected or removed but correct information (good or bad) usually stays on the report for the period allowed. Only the credit grantor (lender/bank) or credit bureau can remove correct information.\n\nIf you find incorrect information on your report, contact the credit grantor obtain an explanation, have them corrected and ask them to contact all three credit bureaus and correct that information on your report. After this you should also contact all three credit with a letter with documented proof of the error on your report and ask them to remove this information. The credit bureaus by law have to respond to your letter and request. Depending on your case they might approve or deny your request but they have to respond to your letter. Following are the addresses for all three credit bureaus.\n\nTrans Union\nPO Box 4000\nChester, PA 19022\n866-887-2673\nhttp://www.transunion.com/\n\nExperian\nPO Box 2002\nAllen, TX 75013\n888-397-3742\nhttp://www.experian.com/\n\nEquifax Credit\nPO Box 740241\nAtlanta, GA 30374\n800-685-1111\nhttp://www.equifax.com/
192357
Once a bad debt (charge off) is reported to the credit reporting agency, it stays there for 7 years.  It will stay there unless the creditor tells them to remove it.\n\nTherefore, if you pay off the debt, the creditor >>>CAN<<< remove the negative report.  However, many of them will not do it unless forced to do so.\n\nOnce you have paid them off, you no longer have any leverage to force them to do anything.  Remember, collection agents don't give a darn about you, they just want their money.  \n\nThat is why it's so important to GET IN WRITING before you pay them anything that they will remove the report from your record once the debt is paid.\n\nWhy in the world would you pay them and still have a bad credit rating?  \n\nUse the sample letter below as a guide, and negotiate a settlement with them.
914823
They are not going to report to the credit bureaus. But you can ask for a letter of reference from them.\nIf you do not have enough credit some creditors may use letter of references from your other creditors that do not report.\nThat includes you house phone, electricity, and gas bills.\nAnd if you have not looked at your credit report, review and you can go to www.annualcreditreport.com if you have not already done so.\nHave fun and good luck.
77144
yes. you need yo contact a credit help agency like crusader or careonecreditcounseling.com they will put you on the right track. items can be removed in as little as 3days but will report in 31days.
196733
Of course they can. They are a collection agency. A collection comes along and takes over where the original credit grantor left off and gave up. They get a portion of what was owed on the original debt like 25% or so. Sometimes they purchase your debt from the original creditor for pennies on the dollar! Remember, the collection agency isnt your friend no matter how nice they are. They're in it for you money; as much as they can. Sometimes they will offer a "paid in full" for a lump sum of just half of what was owed. Make no mistake. Even doing that they still make money although they wont let you know that. You need to arm yourself with credit knowledge. Start by going to annualcreditreport.com and getting your free annual credit reports. Learn as much as you can by yahooing or googling about such info. If your debt is old, it might be better to not even mess with the collection agency. By law, a negative (unapaid) item in your credit report has to be removed after 7 years. Hope I helped some. Good luck.
110350
Get a copy of your credit report.
476362
You can write to all three of the credit report places yourself.  They have to look into all matters that you report.
13694
I'm assuming that you are talking about an old debt that you never paid and is now in collections.  The best option is to contact the collection agency and tell them you want to work out an arrangement to pay a portion of the balance.  Make sure you get them to agree to this in writing before you make a payment to them.  After you pay the settlement amount your credit report will reflect the account as a paid settlement, which will let future creditors know that you didn't pay the full balance but at least made an effort to pay a portion of the amount you originally owed.
1039002
credit report program
419453
Max, it's VERY important how the information is reported on your credit report, as it effects how your credit score is calculate\n\nBelow is what the law says.  I'm amazed at how many people keep getting this wrong.  It's written quite plainly so anyone can understand it.  \n\nThe date for reporting begins on the day you defaulted on the loan.  In your case, once your medical services were finished payment is generally due immediately.  If they send you a bill, there is usually a "pay by" date.  That is your default date.  \n\nIf anyone tells you it's the date of the last transaction, the day you last talked to them, the day you pay it off....they are either wrong or just lieing to you.  \n\nBy the way, if you pay off this debt, be sure to get IN WRITING that they will remove this listing from your report.  Otherwise, all they will do is show the account is paid, but the negative reports such as paid late, or sent to collections, will still remain.  Your credit will still be ruined, even though you paid the debt!  Does that make sense to you?\n\nHere is the law:\n\n\n§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]\n\n(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:\n\n(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.(1)\n\n(1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is  earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period  beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.\n\nUpdated Reply...\n\nJC, this is another example of what pisses me off with you collectors.  YOU can't read!  Read my message again!  The law I quoted is right from the FTC website, and (to me) is fairly obvious.  Where does it say "last charge" or "last payment in the above paragraphs?  \n\nAnd the ONLY thing that can remain on your credit report for more then 7 years is a Bankruptcy.  We are not even discussing that, so why scare people by bringing that up?  \n\nAgain, I will ask you to point me to a source for your information.  I will not accept "because I'm a professional bill collector".  This only proves my point!  If you need more evidence, I will be happy to point out FTC commission position papers, case laws, and state laws that prove you wrong.\n\nEvery response I have seen from you in this forum is always the same. "Pay your bill!".  God!  You make a great collection agent!  You got that part memorized.  But what do you say to the 75 year old lady who just spend 3 months in the hospital and is now $25,000 in debt for medical bills, and can't make that $100 credit card payment?  Oh yeah, right...."Pay your bill!".
825880
I don't believe there is a statute of limitations on debt collection here in Georgia.  If you owe the debt, the collector can try to collect it at any time, even 10 years from now.  However, as far as your credit goes, it now stays on your credit report for 10 years.  I would just tell you to bite the bullet, contact them and just make arrangements to pay it.  Don't let them bully you into paying what you can't afford because then  you'll never pay it at all.  Whatever you think you can afford to pay them, tell them thats what you're going to pay each month.  That way you won't always feel like you're just waiting to be served those papers by the magistrate court.