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sisterluje

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Settlement offer on collections account
I received a settlement offer to a collections account from years ago. About a month or so ago, Credit Karma informed me that a collection had been placed on my credit report. It turned out to be a collection that was already on my report and that is who is now sending me an offer to settle. First, can the collection agency reopen this collection account? Secondly, if I pay it, will it start the seven year placement again?

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Yes, if you pay it, the 7 year clock starts again UNLESS you negotiate IN WRITING that they will remove the account once paid.  If you don't pay it, it will automatically fall off 7 years after the first date of delinquency.  

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