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Question By
pshfw2014

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I have 5 negative accounts. How much will this help me two years down the road when I pay these off?

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Well that really depends on a lot

When did these negative items get placed on your account? Also the amount of these items will determine how much it impacts your score (100 item vs 1,000 item, the larger hurts more). When are these items set to fall off? If its in a year I would let them fall off without paying and focus on the ones which will be there longer. Can you provide more information? Thanks...

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Before you pay them off, please be aware that any item will stay on your credit report for 7 & 1/2 years from the date of last payment.  If you pay them off in 2016, then they won't come off your report until 2023 or so.  Now, I'm not saying you shouldn't pay your debts, but just wanted you to be aware of the impace on your credit report.  A paid collection account is better than an unpaid one, but consider the lenght of time as well.  Good luck!

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Reply by
cvicious85

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Helpful to 1 out of 2 people

That's actually not true. You could arrange a pay for deletion deal with the collection agency and they will be deleted. In this month alone I had six collection items deleted off my report which I confirmed were deleted. If the OP was just going to pay off debts then it's a waste of time, however if they were going to negotiate a pay for delete deal it will work...

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pay for deletion

How do you go about paying for deletion?  do you get confirmation in writing before paying?  how do you know they will actually delete if you pay?

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