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lori rakes

I paid off all old medical bills on my credit report recently and I am wondering how long it will be before the collection agencies take off my report. How long before my credit score goes up?

Posted: Fri Aug 31, 2007 12:12 pm Subject:

I believe the time to take it off is 30 days. You may send the credit bureau a letter to remove it. Come to my site, and on the side is a link to every sample letter you could need. The link is called 'sample letters for all collection needs.' My site link is below this comment. Someone else may be along to add to my information, so check back soon.

Posted: Fri Aug 31, 2007 1:02 pm Subject:

The paid medical bill will show up as "Paid Collections" on your credit report. If the CA is not willing to remove their trade line from your credit report, the item will stay for seven years. As per the FCRA laws, they are not bound to remove a legit remark from your file, but you can make them do so in exchange of the money that you have paid to them.

Posted: Fri Aug 31, 2007 1:05 pm Subject:

How old was this debt to begin with? Because every debt, besides child support and student loans, have Statute of Limitations on them, and after they pass the SOL date, you need not pay it, and any listing of it on a report must be removed.

Posted: Fri Aug 31, 2007 1:13 pm Subject:

The negative item will still stay on the credit report after the SOL is expired. According to the FCRA laws, the person cannot be sued once the SOL on the debt is expired. But the item will be on the credit file for seven years starting from the date of first delinquency.

Posted: Fri Aug 31, 2007 1:15 pm Subject:

Thanks for the clarification, Steg, this stuff gets so confusing sometimes.

Posted: Fri Aug 31, 2007 1:19 pm Subject:

I would dispute dispute dispute that account until they screwed up and did not answer in time. If they don't answer in 30 days it must be deleted.Review the second web link in my signature for the full text of the fair credit reporting act.Learn it and you can use it to your benefit.