Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
dvp1996

0 Contributions
0 People Helped
How long will a collection stay on?
I payed a parking ticket late but it was already reported to one of the bureaus. It's not listed as a derogatory remark but as 1 new item in collections. It's date Feb 2016. Should I dispute it (using the Credit Karma tool) saying it's already payed so the collection agency will (or can they) remove it? If not how long will it stay? Parking ticket was for $137. Payed May 31st. Thanks guys

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
269 Contributions
114 People Helped

An item in collections IS a derogatory remark. There's no point in disputing it because the report is accurate. The dispute process isn't there to remove things you don't like; it's there to remove inaccurate items. 
It will be there for seven years after the date it became 30 days delinquent with the original creditor (the entity you got the ticket from).

Paid collections will be on your record for the same amount of time as unpaid collections, but the benefit of paying them is that it reduces your total debt, and therefore may have a slight effect on your credit score.  

Top Contributor
5038 Contributions
1134 People Helped

I would advise disputing it, but do it at the websites of the credit bureaus reporting it, not through here. Transunion, Equifax and Experian all have websites with instructions on how to dispute. If the account is showing a balance then you do have legitimate grounds to dispute it as it is incorrect information. I would dispute it regardless though of what it is showing and hope for the best. Good Luck

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.