How To Remove Collections Without Paying? (2022)
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Collections will remain reported for 7 year once listed on your credit report. Having a collection on your report will damage your credit score and reduce the likelihood of you being approved for:
- Auto loans.
- Mortgage loans,
- Personal loans,
- Credit cards, and
- Lease agreement.
This should make removing collections from your credit report a top priority for any debtor.
How To Remove Collections From Your Credit Report?
The following approaches can be used when attempting to remove a collections item from your credit report:
- Send a Goodwill letter,
- Dispute the collection item with a dispute letter,
- Negotiate a settlement to have the item removed, “pay to delete”,
- Request validation of the debt, or
- Employ the services of a credit repair company like Credit Sage.
When Is Disputing Collections On Your Credit Report A Good Idea?
The Fair Credit Reporting Act (FCRA) permits consumers to dispute any collection account on your credit report. Disputing the collections won’t damage your credit score either. The following instances would have a higher likelihood of being disputed than legitimate debts:
- The debt was mistakenly sent to collections,
- The debt isn’t owned by you,
- Account was correctly removed and then mistakenly reinserted later,
- Debt collectors report old debts as new by altering the accounts opening date,
- Charges were incurred as a result of identity theft, or
- The collection is a medical debt that should have been covered by insurance.
Bottom Line
Review your credit report regularly to ensure you dispute any incorrect items like collections as soon as possible. You can consult credit repair specialists Credit Sage to solve all your credit disputes on your behalf.
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