Debt Question
Date: Fri, 03/24/2006 - 14:41
Guest,Once negative information like collection enters your
Guest,
Once negative information like collection enters your credit report, chances are it will stay there for 7 years. So if you pay the account it is likely to be updated as paid collection which is slightly better than unpaid collection.
However, some times collectors remove the entry from your credit report in exchange of a satisfactory amount. But no one can assure you that they will. One of the forum members tried this with different collection agencies and got success with one only. So you can negotiate with your collectors.
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