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I have negative items on my CR-one is an old judgment which is scheduled to come off between November and December (TransUnion says November, Experian and Equifax say December) and a $209 collection from my checking account that was closed due to PDLs. I just got off the phone with the bank that entered the collection account to ask them if they would be willing to remove it if I paid it (yes, I am aware that pay for deletes are virtually non-existent) and the man with whom I spoke, who happened to be a loan officer said that it is their policy that they do not delete entries on CRs as long as they are accurate and they are adhering to FDCRA. He did say that paying a collection account will look better on my credit than having it unpaid.

So, what is the final verdict; will paying off an old account that is still going to be on my CR for another 7 years benefit my credit in any way or should I just let it ride and see what happens? I realize that the downside of not paying it is that they could transfer it to a CA which could potentially open up another collection account on my CR so theres that. Thanks in advance for help.

A paid collection is no better than an unpaid one. Wait it out. And if another CA picks up the account, their account to must fall off when then original creditors does too.

Sub: #1 posted on Tue, 07/31/2012 - 12:34

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