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laeface

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Paid off collection, still mysteriously open?
I paid off three large collections, got reference numbers for all three, but they still show as open! I paid the creditors themselves. How long will it take for those to start reporting as closed?

And yes, I do understand they will report for the next seven years regardless. I just want to know why they're open and not closed when I paid LOTS of money to close them and pay my penance.

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Have you given your reports a month to update? Payments are not reflected immediately. They won't report for the next seven years either unless you have just went delinquent on the original account within the last few months. The seven years starts from the DOFD on the original account. "date of first delinquence" is usually one month after you made your last payment on the original account or when a bill went past due that led to it going to collections. If after a month or so the accounts are not marked as closed then you should dispute that info. Actually, I advise disputing it now and if you are very lucky the account will be removed instead of updated to closed. That is a really long shot, but it is worth a try. Transunion, Equifax and Experian all have websites where you can dispute incorrect info.

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