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stormi1869

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If I pay in full a collection will it help or hurt me or should I wait until it falls off.
I have a collection from four years ago, being 18 and stupid I got a loan and didnt pay it back. I now owe 450.I talked them and they said they dont go through a collection agency and wont delete it.Or when I do pay it will I be able to get a small loan and start building my credit again.

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Well, in another 3 & 1/2 years (or thereabouts) it will automatically fall off your report.  If you pay it, it will stay on your report for 7 & 1/2 years from the date you paid it.  So, it's up to you, kind of a wash in my book.  You can start now to rebuild your credit.  Go to www.credit.about.com and start reading on the different ways to improve your credit and perhaps you can do enough good things so you don't have to worry about this negative account.  Sorry it's not a more concise answer, but it's tough to say without looking at your full credit report.  Best of luck!

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