Paid or not a negative will stay on your report for seven years. I paid some off last year and it done no good, did not raise my score, just shows that they are paid. May as well left them unpaid until they fell off and saved the money.
Yes, except hard inquiry, all negative items will stay in your credit report for seven years, even if you pay them off in full. Paying off the debt if full only saves you from judgment. However, if you can make the creditor agree to PFD in writing before making any payment, the item can be removed from your report before the seven year period.
Moss, you could also try to call the company to which you paid the account off and ask them to delete. Chances are they will not but it is worht a try. also the older a debt is the less effect it has on your score so you at least have that positive side. Good luck.
No, the credit bureaus will not remove the negative listing because as per the Fair Credit Reporting Act, any negative information will stay on your credit report for seven years and six months until and unless the creditor agrees to pay for deletion agreement. Now, if you had made a PFD agreement before you paid off the debt, the listing could have been removed. But now, since the payment has already been made, it will stay there for seven years.
Paid or not a negative will stay on your report for seven years. I paid some off last year and it done no good, did not raise my score, just shows that they are paid. May as well left them unpaid until they fell off and saved the money.
Yes, except hard inquiry, all negative items will stay in your credit report for seven years, even if you pay them off in full. Paying off the debt if full only saves you from judgment. However, if you can make the creditor agree to PFD in writing before making any payment, the item can be removed from your report before the seven year period.
Moss, you could also try to call the company to which you paid the account off and ask them to delete. Chances are they will not but it is worht a try. also the older a debt is the less effect it has on your score so you at least have that positive side. Good luck.
I am guessing the credit reporting agency will not remove is if i asked them?
No, the credit bureaus will not remove the negative listing because as per the Fair Credit Reporting Act, any negative information will stay on your credit report for seven years and six months until and unless the creditor agrees to pay for deletion agreement. Now, if you had made a PFD agreement before you paid off the debt, the listing could have been removed. But now, since the payment has already been made, it will stay there for seven years.