Credit Report Score after collections?

How much can i expect my score to increase once i have taken care of a collections entry on my report? This entry brought my score down 50 points.

Credit Report Score after collections?

Paying it won%26#039;t increase your score, it may lower it a few points.

accounts sent to collections are derogatory entries and stay on the report until the reporting Sol has been reached.

The credit bureaus keep your personal credit history for periods between 7 and 10 years:

Unpaid Tax Lien - Indefinitely

Chapter 7 Bankruptcies - 10 years from date filed.

Public Records - 7 years from the date of payment;

Closed or Inactive Accounts - 10 years from the date of last activity;

Derogatory Accounts - 7 years from the date of original delinquency;

Before you pay you should see if the debt is beyond your states statutes of limitation for collection. You may be better off waiting for it to run out of time. Making payment would reset the clock and keep it on your report longer.

Hope this helps.

Credit Report Score after collections?

i sure hope you asked them to delete this negitive info in exchange for payment AND in writting. if not sometimes paying them will have little impact. however cheers for the moral thing paying your debt.