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- Location: Texas
attrapereves wrote:We just pulled my wife's Equifax report and noticed two collections on there. I'm a little confused about when they will fall off her report. Which one of these dates should I use to determine the 7 year mark?
The dates are listed as:
Date of 1st delinquency 10/2008
Collection reported 9/2010
The balance is less than $300, so we might consider speaking with them about paying it and having it removed.
Another question: My wife has a large medical bill ($2500) from two years ago. The hospital said she was only allowed to have 6mo to pay it off. This didn't work into finances at the time. It was turned over to collections where she immediately contacted them and set up a payment plan. She's been paying them monthly. Does this show up negatively on a credit report?
Seven years from "Date of 1st delinquency 10/2008" - a credit pull on 11/2015 will reflect that account no longer reporting. Most collection agencies will report accounts even if a payment plan is setup. The fact it was turned over to collections will negatively impact the credit report, but at least the subsequent payments will be reported which will appear better than no payment.
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