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Question By
legacys7

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is it legal for collect agencies to update reports months after full payment was made?
I paid a debt collector back in May of this year. They updated it a week or two later. I looked at my report and noticed that it has been updated on December 2, 2013. I read somewhere that they can't update the the info. beyond the date that the debt was paid and confirmed. From what I had read and was confirmed by Equifax, it is hitting my score. They, Equifax claim that they can update it anytime. But I call b.s. on this because I've read several times that they can no longer do this once the debt is paid in full and confirmed once on the credit reports.

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The credit account will remain on your credit score for 7 years after the date it is paid in full because it is part of your credit history.  Read the information under "Resources" on this site and utilize the tools so you can better understand how credit works and what to do, or not do, to improve your credit score.

Reply by
legacys7

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Actually the report will be removed before that. It will be removed based on the date that the credit company reported it. That was in 2009. I got the dates from each credit report confirming when it was reported and when it will be removed. The only time that the report stays longer is if several years have gone by, near the 7 yr period and you pay it off, it will remain then beyond 7 yrs. Mine will be removed in 2016.

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