Equifax

Im in the process of getting a mortgage and all of a sudden this(collections) pops up on my Equifax credit file. I know it will hurt my score already. I need to know the best way to go about getting it removed. I heard even if you pay it off it will remain as a negative. Any good advice?
- asked by jawsnu7

Answer #1
dispute it. Tell them you have no knowledge ofthe creditor
- answered by askme

Answer #2
If the debt and the collection is legit andrecent, you'll have a very tough time getting itremoved.
- answered by Black Fedora

Answer #3
If it doesnt belong theire you can dispute it andhave it removed fairly quickly. Pay it and it willlist as satisfied, but other than that thaere isreally nothing you can do ....legally.
- answered by monamarie

Answer #4
you have to file a dispute and they willinvestigate it, then if thry find it a validdispute, they will remove it
- answered by richardnjill



Answer #5
If collections comes up on your credit report itmeans you have not paid something. Pay the billand it will come off your credit report. If youthink there has been a mistake you have to haveproof and on the equifax website you can disputeyour credit report.
- answered by suzannet79

Answer #6
Contact the creditor and agree to pay it in fullif they will remove it.
- answered by Dr. Bugly

Answer #7
1.) Pay it off and attain a receipt from thecreditor. 2.) Submit a request online to Equifaxat www.equifax.com to update the collectionaccount to a status of "satisfied." They willrequire documentation, which is what the receiptis for.It will remain as a collection account onyour report, but having it showed to be paidshould help your score
- answered by KL

Answer #8
Depends what it is. If you don't know what it is,dispute it. If you do know what it is, I wouldsend a letter to the company to validate the debt. If they can't validate it within th 30 days theFair Credit Reporting Act allows, by law it has tobe taken off!
- answered by jessigirl00781

Answer #9
Let me warn you of something.If you were to payoff this bill, and IF the creditor notifies thecredit bureau, your account is changed to "paid". However, it will still show that you had latepayments, or that the account was in collections. This is still a negative item on your report, andit will still hurt your score.Does it make senseto pay off your bill and still have bad credit?Theproblem is that the only way you can get anegative item removed is for the creditor to tellthem to remove it. There is no other way (exceptto go through the dispute process and hope thecreditor does not respond to the investigation).What I advise people to do is negotiate with thecreditor. Tell them that in exchange for payingoff the bill, they must agree IN WRITING to removeall negative information from your credit report. See the link below for more info.
- answered by Studly

Answer #10
The quickest way to remove a collection from yourreport is to contact the original creditor andnegotiate settlement. Don't even deal with thecollection agency. You can negotiate removal ofderogatory information with the creditor as partof the agreement (And I have helped people dothis many times). This will change your derogatoryaccount within thirty days. Purchase the book"Guaranteed Credit" by Arnold S. Goldstein andrefer to sample letter 21a "Creditor SettlementAgreement"This agreement can be faxed between youand the creditor.
- answered by David H

Answer #11
FIRST ..DO NOT LISTEN to most of these people whohaven't a clue! If you pay it will STILL be onyour report for 7 years. Contact the collectionAgency by letter (NO PHONE CONTACT) offer to pay25% of the bill if THEY delete it from a 3 creditreporting company, eq, es, tu. Get it in WRITINGbefore you give then one cent. Chances are theyhave bought the debt for pennies on the dollar..soknow that up front...tehy might have only a fewdollars in your account...they buy them in bulk.NEVER admit the debt is yours...always call it thealledged debt. If they won't play ball send all 3CRA'a a letter asking for proof that the debt isyour..BY LAW they must give you PROOF..that's whatthe FCRA say's. If they don that with (30)days...then work again with the collectionagency...TRUST me they want some money and thesebottom feeders will act if you give thembait......GOOD LUCK
- answered by Indianadude

Answer #12
you can pay it to begin withif the mortgage lenderknows it's paid it probably won't bother them toomuch
- answered by jannie

Answer #13
try Lexington Law firm @ lexingtonlaw.com
- answered by marie