Collection accounts on your credit report can significantly affect your credit score negatively. A good credit score is imperative today. If the collection account on your credit report is valid, technically, it "can't" be removed. However, with some clever negotiation, you may be able to remove collections from a credit report.
Instructions
- 1
Let's assume the collection account on your credit report is yours, technically it has a right to be there. However, you will want to negotiate with the collection agency to get it removed. Write a letter to the collections agency stating you will make a payment on the debt for exchange of the item being completely removed from your credit report.
2In the letter, state that the item must be removed within 10 days of payment being received. You also want to request that they send a letter in writing back to you accepting the agreement. Do not make any payments until they have agreed in writing. In your letter, state you are requesting a letter on company letterhead with an authorized signature. They will also want to state the debt settlement amount and agree to the removal of the collection item on your credit report within 10 days of payment.
3You also want to check for multiple listings on your credit report for the same account but different collection agencies. Collection agencies usually sell accounts to other agencies after so many months. So it is possible that you may have some collection agencies on your credit report that aren't actively collecting on your account anymore. If this is the case, you will want to dispute with the 3 major credit bureaus to have those removed. Simply call the collection agency listed to see if they still have your account active or if it was sold to another company.
4If there is a collection item on your report that does not belong to you, you want to dispute with the 3 major credit bureaus to have it removed immediately. They are required to show validity of the accounts, they must remove it.
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