Will it show on my credit report that I settled with a collection agency?

I want to settle a payment but wanted to know if it will continue to affect my credit. Will it show on my credit that I settled with a collection agency.

Will it show on my credit report that I settled with a collection agency?

Yes it will. Anything that is negative on your credit will continue to show on your report for up to seven years.

However, it is much better for you that your account shows as a paid collection account, rather than an open collection account, which will stay on your account until it%26#039;s paid, and then another seven years from the date that it is paid.

You can ask the collection agency if they would be willing to remove it from your credit if you pay but most likely they will not do that.

Assuming that you pay this debt now and it continues to show on your credit (but now as a paid account rather than an open account) you can consider writing to the collection agency in a few years and ask them to remove it from your credit.

Even though a negative mark can stay on your credit for up to seven years (ten years if it%26#039;s a bakruptcy case) it doesn%26#039;t have to stay on that long and many companies are willing to remove this earlier, if you write to them requesting that and the account was paid in full years before.

Hope this helps.

Will it show on my credit report that I settled with a collection agency?

Yes, it will show in your account status.

Will it show on my credit report that I settled with a collection agency?

yes

Will it show on my credit report that I settled with a collection agency?

Yes, the difference in what you owed and what you actually paid will be entered as a charge off - a loss to the company who reported you.

Will it show on my credit report that I settled with a collection agency?

May I ask you how long have you had this account in collections and if it is from a credit card, installment loan, etc?

Have you seen your credit report lately? If not, I would look at it first before settling a payment.

If the account you are settling a payment for is on your credit report as a delinquent account, I would think that there is also a collection account that shows up for this delinquent account. So basically you should have two negative accounts on your credit report.

The original debt will show paid off or charged off. While the collection account will show as settled and paid. Both will stay on your credit report for seven years, are negative, and will negatively impact your credit score and decrease your chances of getting good financing and credit card opportunities for the next seven years.