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Question By
Sakeema1

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if account is closed and has derogatory, can you pay it
Can you pay closed account and will it help your credit or it stays the same

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Top Contributor
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It can help.. Depending on how old it is; I would first write a letter to the "Credit Bureaus" asking them to check the validity of the debt. Give it 30 days from the tiime the Credit Bureaus receive the letter and they will send you back a response. Most creditors discard personal info about the people that owe them money because it's too much of a hassle to keep it on file. If it is up to date; then call your creditor and ask for a pay for delete agreement. This means if you pay the debt in full; they would agree to remove it. 50/50 chance they will agree though. If they don't agree to that; then ask for a settlement agreement..... This means that you pay the balance in full for a reduced amount. But the collections still stay on your credit until the 7year period is up. But it does reflect that the bill has been paid. I prefer that pay for delete method. Gives no trace of you even having a collection.

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