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shamisty

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Will a bank overdraft from 4 years ago affect my credit score?
i received a call that I had a bank overdraft of $88 from back in July 2009 and the bank sent it credit colelctions. I checked it out before doing anything i didnt know if it was a scam, i couldnt believe i could have done anything like this. I verified them to be valid. So i paid them IMMEDIATELY! i got a letter saying it was paid in full. Will this affect my credit score????

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You should have asked this question prior to paying them. The advice you would have been given would be to call the collection agency and be cooperative as you were anyway but before handing them any money you offer to pay it in full only if any negative credit reporting is removed (and get it in writing of course). By paying it off without making that agreement you now have no bargaining power.

However, the only way to find out is still call the collection agency and ask them if they reported it to your credit. Most collection agencies do not immediately report it to your credit, they only do so after they are ignored or dodged a couple of times first. If they did report it as negative already, explain that a mistake happened, you were cooperative with them, and you paid it in full (and did not try to haggle them down) immediately upon verify it as a valid oversight, and ask them to remove it. Since you already paid them in full, whatever their answer happens to be will be the answer you have to live with. If it was reported then, yes it will affect your credit score for the next 7 years.

Hopefully, they didn't report it as it sounds like you immediately took action. Good luck!

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