664 Credit Score – Increase Credit Score in 7 days | Remove Collection
664 Credit Score – Review
Increase Credit Score in 7 days : Remove Collection
Remove Collection from a Credit Report without Paying
Mortgage Credit Score Explained
3:00 Written Communication
4:13 Phone Communication
5:00 Written Agreement
7:52 Payment Type
10:08 Removal Timeline
10:58 Score with collections
11:54 Scores After Removal
14: 31 Outro
Collection Accounts can have a devastating impact on your credit score that will remain for years. As long as a collection account remains on your credit report, there is very little chance of having excellent credit.
One way of removing a collection and see a drastic increase to your credit score is to remove the collection through a pay for delete settlement. Once all collections have been removed, you will see a significant increase in credit score if there are no recent late payments on the credit report.
Often times when pay for delete deals are made, collection companies do not follow through with the deletion due to human error and the volume of accounts they are working with. It is then up to the account owner to follow up, and dispute the account with the credit bureaus to get the collection removed.
As a result, it is important to keep the following documentation on hand in the event that a dispute is needed to apply the settlement terms to the credit report.
1. Keep all written communication from the collection company
2. Keep documentation of all phone calls
3. Request the settlement agreement in writing and keep a copy of the agreement
4. Pay for the settlement in a trackable payment form like a check.
Following the steps above will ensure that you have the evidence needed for a dispute. Disputes can be completed, and the credit score can increase within 7 days or less.
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