If you pay collection accounts on your credit report will they come off?

Question

I have a few collection accounts on my report that are really small but were just overlooked in the past. If I pay these collection accounts off will they be removed from my credit report?

Answer 1

They will come off if you negotiate a Pay for Delete agreement PRIOR to paying them. In this agreement, they agree to pull the items off your credit file upon receipt of your payment....This works best with things like defaulted medical,  cell or utility bills.....Charged-off credit card notations may be impossible to remove and they stay on for seven years.  

Answer 2

You can send a letter to them requesting them to either delete it or have it marked as paid as agreed bringing it to a positive.  You can also negotiate the amount you pay them since the debt is old they make take 1/2 of what the original amount was.  Make sure you get everything in writing from them.

Answer 3

NO!  Do not let a collection agency tell you otherwise.  It will stay on your report for up to 7yrs.  If your are in debt beyond what you can afford contact a Bankruptcy Attorney for advice.  

Answer 4

They will most likely be reported as paid after charge off which is better than unpaid debt.

Answer 5

No, they will remain on your credit report for seven years from the date of last activity.

BUT, you can negotiate with each creditor for an arrangement called "Pay for Delete."  Under this agreement, you agree to pay the amount in full in exchange for the creditor removing the record from your credit report.