Lauren Smith, WalletHub Staff Writer
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A collection account will stay on your credit report for seven years. You cannot remove a collection account from your report unless the information listed is incorrect, but the impact on your credit score will lessen over time.
You can check your credit report and credit score as well as get personalized credit-improvement tips for free here at WalletHub. You can also learn more about collections and your credit below.
Key Things to Know About Collections and Your Credit Report
- You can file a dispute to remove collection account errors: If the collection on your credit report is not accurate, you can file a dispute with the three major credit bureaus to correct it. The bureaus typically respond to claims within 30 to 45 days.
- Paying off a collection account may improve your credit score: Even if you pay off a debt in collections, the account will not fall off your credit report. However, some credit scoring models will ignore a collection account once it has a $0 balance, which can improve your score.
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