| Having collections on your credit report will affect your | | | | collection account, the more of a negative effect it has |
| credit rating, the length of time depends on not just the | | | | on your credit report. It is a good idea to try and settle |
| collection but other items on your credit report. There | | | | the account with the original creditor before they |
| are a lot of different factors that go into calculating | | | | involve a third party. While the account may be |
| your actual credit score which the credit bureaus do | | | | delinquent with the original creditor, it does not show as |
| not reveal to the public, which makes it hard to know | | | | a collection account with a third party until it is sold to |
| the exact effect it has on your credit file. | | | | them and written off by the original creditor. |
| There are two type of collection accounts, you have in | | | | Keep in mind that collection accounts that are older |
| house collections which are accounts that are owned | | | | than seven years need to be deleted from your credit |
| and collected on by the original creditor and third party | | | | report according to the law and you can accomplish |
| collection accounts. These are sold to a third party | | | | this by sending the credit bureaus a dispute letter. Even |
| after the original creditor has written them off given up | | | | if it has not been seven years, thousands of people |
| on their collection attempts. | | | | have had success deleting collection accounts from |
| It has been established that the more recent the | | | | their credit reports. |