Thursday, September 27, 2007

after 2 years can a collection account be updated to new date of last activity and start the seven years over again?

I do however have a question I could not find on the website. I have heard (and this could be incorrect) that dealing with old collection accounts can actually cause them to become current and hurt your present credit score. Is this correct? I have an account that is over 2 years old but still has a balance due. I realize the collection is not really affecting my score, but I know it will look better if I have it removed. If I contact this company can they restart the clock?

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cThey can and often do IF you do a payments plan.
Pay the whole thing off, and ask for no dates to be changed.
All you want is the account to show paid of in full.
So I would talk to them before I paid.

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