I have old debt on my credit, now I want to clear it. How to remove paid collections from credit report? I don’t want to wait to remove paid collections from credit report, so how can I remove paid collections from credit report?
How to remove paid collections from credit report
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It is possible to get paid collections removed from your credit report. But as per the RBI, items are to be reported for seven years from the date you first fell behind with the original creditor.
Typically, the only way to remove a collection account from your credit reports is by disputing it. But if the collection is legitimate, even if it’s paid, it’ll likely only be removed once the credit bureaus are required to do so by law.
Let’s begin with the brutal truth. If there’s an accurate collection account on your credit reports, the odds that you’ll be able to get it removed before it’s been there for the maximum allotted time — seven years from the date of the original delinquency — are slim.
Even so, there are a few steps you can take to try to get it removed faster. They’re just unlikely to work.
•Check all of your credit reports to see where the negative item appears.
•Determine whether the account is legitimate; if it’s not, you might be able to get it removed from your reports.
•Choose your plan of action. You have three choices — dispute the account (if it’s inaccurate), contact the collection agency for a goodwill adjustment (if you’ve paid the account in full), or simply wait for the account to be removed from your reports in due time.
•Acknowledge that you may not be able to remove a legitimate collection from your credit reports
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