I'm in collection, is there a chance that the collection record will be remove in my credit history?

Question

I was put in collection for not paying $30 website, it's actually a companies website, it was my partner who was paying for it but it was under my name. Nobody informed me that the website was not canceled properly and it was not paid for a few months (don't have communication with partner, I just wished she told me or canceled it on time). I just saw my credit score now and it went down 150 pts because of the collection. I'll just pay the $30, but I'm worried that it won't help me with my credit score. What can I do?

Answer 1

Did you get notified that it was put in collection? They first should have notified you. Then gave you the option to pay or it would be turned over to the creditors (credit score).

I would find out who has the debt then get a hold of them explain what happen let them know you'll pay but would like this removed from your credit score. Most collection places will work with you. Best of luck!!

Answer 2

You can use credit repair agency, for example this one - http://creditreport.undonet.com

They will clean lots of such bad stuff from your credit report - and do it much faster than yourself, so your credit will go up.

Answer 3

Call the collection agency that has the debt and offer to pay it in exchange for immediate removal from your credit reports. Make sure you get the agreement in writing before paying them a single penny.

Its doubtful that they willl oppose, but if they do simply refuse to pay it, as the damage cannot get any worse to your credit score.

Edit - scratch that, don't call them. Send a certified return receipt letter outlining the pay for delete terms and ask that they send you something on their letterhead with a signature agreeing to those terms. When you get that signed agreement, then its safe to pay.