Opened an account for my sister

by Elizabeth
(Fort Worth, Texas, USA)

Yes, I know that was my first mistake.... She never told me that she didn't pay the last months bill. As soon as I found out about it I payed it immediately, but by that time it had already been reported to the collections agancy. It was reported to collections on Oct. 31 and I paid it today, Nov. 15. Is this going to make my credit (which is very good) go down in score?

Reply from

If they report the collection account - they may not since you paid it right away - your scores will go down, and probably significantly. The best time to negotiate with a collector not to report these accounts is before you pay them. But if you check your credit reports ( and it has been reported, you may want to ask them to remove it given the circumstances. If that doesn't work, you may try disputing it in a few months. If the collection agency doesn't verify it, it must be removed.

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