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cluelesscollegestudent

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Will paying my collection account change the status to "paid in full" immediately?
I have a collection account from move-out charges from a apartment I lived in three years ago. I'm wanting to apply for a new apartment in a few days, but I realize I may need to pay this account to be accepted because it may be listed as a "housing debt," which is an automatic denial.

I want to pay immediately, but am wondering if the status will also change accordingly, or if I have to negotiate that.

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Your payment will not reflect on your reports immediately, it will take a little bit of time to update, how long, it depends, but usually within a month at longest. The best thing that you could do is to get a "pay for delete" on the account. This means get the company listing this on your reports to agree to remove the account from your reports in exchange for your payment in full. If you are lucky it will be updated within a couple of days either route you take, but there is no guarantee that it will update that quick.

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