Receipt from collection agency by: Debtcollectionanswers.com
I am not aware of any law requiring a collection agency to provide you with a receipt once you have paid a debt in full. If you want a receipt, ask for one. I recommend that you put your request in writing, make a copy of your letter for your files, and send the letter via certified mail with a return receipt requested. It's best to direct the letter to a specific person or department however.
Mar 06, 2012
erasing bad debit by: mr Bryant
Hello I just wanted to know since I'm trying to buy a new car by the end of the year I paid all my debt how do I go about getting this old debt removed off my credit report and is it true that removing old debt will boost you're score back up and I also heard it only takes a month to remove old debt.
Reply from DebtCollectionAnswers.com:
Congrats on paying off your debts! As soon as the creditors report your new zero balances to the credit reporting agencies you'll be fine. It usually takes about a month.
Again, this is a great accomplishment. Congratulations!
May 06, 2014
A follow up question about my credit report by: Anonymous
Does the debt from the collections agency get removed or just show zero balance after it's paid? If it just shows zero balance will that be enough to boost credit score?
Reply from DebtCollectionAnswers.com
Unfortunately paying a collection account does not remove it from your credit reports, and it generally does not boost your credit scores though some recent credit scoring models (VantageScore 3 and FICO 9) ignore paid collection accounts.
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