Posted on: 04th Jan, 2010 07:35 pm
unpaid bill was sent to collection agency,the amount was paid in full with 0 balance left owing in 2004, it is appearing on my credit history. I cotact the credit bearu, they said it will appear for 7 years from 2004, that is the law.. My question is, if the amount has been paid in full, why is it still showing up history? Ican't be approved for anything until it is secured, isn't it better to not pay, because by paying the amount it is still no value. Please guide me!!!!!!!!!!!!!!!!!
yes, it is better to pay than to not pay. as the bureau told you, the derogatory information stays on your report for 7 years. that you've paid it is favorable, and if you're continuing to pay everyone on time now and have no additional collections, your credit score is probably increasing on a regular basis.
your question was actually answered by the bureau.
your question was actually answered by the bureau.
From what I understand, they can report it on your credit report for up to 7 years from the date of last activity. So if you paid it in 2004 (no matter when you originally defaulted), it will be on there until 2011, which isn't so long away now. It does look better to have it paid as opposed to unpaid, although it is still a black mark.
