Credit Repair – Having Collection Accounts Deleted From My Credit Report

Most people are unaware of the fact that it is possible to delete collection accounts from their credit report. Collection accounts can be one of the easier negative items to delete if you have the proper information.

Deleting collection accounts will surely help to improve your current credit rating.

Collection Accounts- Collections accounts are accounts that the lender has given up on collecting the money from you and have decided to write off the account on their books. A lot of lenders will sell these accounts to third party collection agencies and these guys will call you trying to collect the money.

The account will show on your credit report as a "collection account" and the best way to get rid of the account in this particular situation is to negotiate with the collection company. Because the account has been written off, the collector will be willing to take less than the original balance but you want to come to an agreement ONLY If they will have the collection deleted from your credit report.

On the other hand if it's an older account, you can try a different approach, which will involve you challenging the account with the credit bureaus. Challenging the account will cause the credit bureaus to investigate the account and if they cannot find proof that you own the account, it has to be deleted by law from your credit report.

Another way collections can be deleted from your report is based on the age of the collection account. If its older than seven years it needs to be deleted according to the law.

Source by Tony Banks

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