Credit Cards

Collections purge time?

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  • Jul 15th, 2018 8:27 pm
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Newbie
May 10, 2018
68 posts
15 upvotes

Collections purge time?

I have a collections on my equifax report,
It’s for 1 k

It’s been on there for 3 years, so I am at the halfway point 3 more years till it’s gone.

Question if I did pay it off, would it stay on my report for 6 more years? Or would it still come off in 3 years. Equifax says date of last activity, as in payment?

I asked the company if I pay it would they just remove it from my report. Nope they just update it as paid.
14 replies
Deal Guru
User avatar
Aug 24, 2016
11667 posts
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Win-ter-peg
It will still purge 6 years from the original date of last activity.
Despite sometimes popular belief in this forum, a collection account is written off by the original creditor, and the purge time limits cannot be reset due to paying it off.
Newbie
May 10, 2018
68 posts
15 upvotes
Okay that’s good to know. I thought it was date of last activity. As if I pay it that would be the day of last activity. Wonder how much my score would go up with this paid.

Thinking about 30 points or so.

But I also have a Rogers 6 k write off that won’t purge till jan 2020. So I think paying off the collection still won’t get me approved for credit. Good thing my trans union is clear.
Deal Expert
Aug 22, 2011
41800 posts
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Creditman wrote: Okay that’s good to know. I thought it was date of last activity. As if I pay it that would be the day of last activity. Wonder how much my score would go up with this paid.

Thinking about 30 points or so.

But I also have a Rogers 6 k write off that won’t purge till jan 2020. So I think paying off the collection still won’t get me approved for credit. Good thing my trans union is clear.
Rough times?
Deal Addict
Mar 18, 2009
1458 posts
286 upvotes
Renous
It won't help unless you're going for a mortgage or something similar. A paid collection account is just about as good as a collection account with a balance remaining.
coolintheshade wrote: It will still purge 6 years from the original date of last activity.
Despite sometimes popular belief in this forum, a collection account is written off by the original creditor, and the purge time limits cannot be reset due to paying it off.
I hate to disagree, with @coolintheshade as they are a very knowledgeable poster, but I had an account re-aged by paying it off. Mind you, this was over 20 years ago, and maybe things have changed, but I'm living proof of the DOLA being amended on a collection account. :-/

That said - I was able to get it removed by challenging it. So, it would have stayed on if I didn't do anything about it.
Reserved for future time travellers
Deal Guru
User avatar
Mar 23, 2008
13006 posts
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Edmonton
Creditman wrote: Okay that’s good to know. I thought it was date of last activity. As if I pay it that would be the day of last activity. Wonder how much my score would go up with this paid.

Thinking about 30 points or so.

But I also have a Rogers 6 k write off that won’t purge till jan 2020. So I think paying off the collection still won’t get me approved for credit. Good thing my trans union is clear.
So no concern about paying back the money you borrowed years ago or anything. Just concerned about how it affects your ability to borrow again...

C
Newbie
May 10, 2018
68 posts
15 upvotes
Alcoholic Ex made the debt so nope not concerned at all. Trans union removed both collection and Rogers charge off. But equifax is a tough cookie. Got 4 cc as my trans union file is good.

Later folks it’s Movie Tuesday, Woot Hoot!
Deal Guru
User avatar
Aug 24, 2016
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patpond wrote: It won't help unless you're going for a mortgage or something similar. A paid collection account is just about as good as a collection account with a balance remaining.



I hate to disagree, with @coolintheshade as they are a very knowledgeable poster, but I had an account re-aged by paying it off. Mind you, this was over 20 years ago, and maybe things have changed, but I'm living proof of the DOLA being amended on a collection account. :-/

That said - I was able to get it removed by challenging it. So, it would have stayed on if I didn't do anything about it.
Any account that’s gone past the purge time limit should be disputed, and the credit bureaus needs to ask the collector to prove the details of the debt.
I’m not sure if the purge rules were the same 20 years ago, but your case could have been a collector playing games (much more common years ago) and changed the last activity date to make it stick longer.
People think collectors are bad guys these days, but they were far worse years ago, breaking lots of rules and laws.
I think the law and the credit bureaus cracked the whip over the years.
Deal Guru
User avatar
Mar 23, 2008
13006 posts
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Edmonton
Creditman wrote: Alcoholic Ex made the debt so nope not concerned at all. Trans union removed both collection and Rogers charge off. But equifax is a tough cookie. Got 4 cc as my trans union file is good.

Later folks it’s Movie Tuesday, Woot Hoot!
Enjoy the movie, and continue the fight. There are people who specialize in attempting to purge bad information from the credit bureaus. If it's important to you, check into it.

C
Deal Addict
Jul 29, 2014
1506 posts
1106 upvotes
Toronto, ON
I'm getting a credit hit from Koodo who still hadn't provided several hundred in referral credits after several months so after dozens of hours on hold with Koodo CSRs that were unable to do anything, I cancelled with the equivalent amount owing.

They've sent to collections who also aren't willing to listen to anything and are solely focused on collecting. So I'm expecting that this will go to court.

What I'm concluding from the info in this thread, when they claim, if I counterclaim to get them to remove the credit hit, they simply cannot do that. Anyone have any reference material for counterclaimimg for a monetary amount as a result of a credit hit?
-------------
GRAMMAR: The difference between "Feeling you're nuts." and "Feeling your nuts."
English is a difficult language. It can be understood through tough thorough thought though.
Deal Guru
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Aug 24, 2016
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treasureseeker3 wrote: I'm getting a credit hit from Koodo who still hadn't provided several hundred in referral credits after several months so after dozens of hours on hold with Koodo CSRs that were unable to do anything, I cancelled with the equivalent amount owing.

They've sent to collections who also aren't willing to listen to anything and are solely focused on collecting. So I'm expecting that this will go to court.

What I'm concluding from the info in this thread, when they claim, if I counterclaim to get them to remove the credit hit, they simply cannot do that. Anyone have any reference material for counterclaimimg for a monetary amount as a result of a credit hit?
You ruined your credit over some referral credits?
Is 6 years of bad credit worth this “several hundred” in referral credits?
Instead of dealing with front line CSR’s, you should have escalated to a supervisor or other higher up.
Failing that, contacting the ombudsman or similar, would have yielded better results if you’re in the right.
There’s always other channels at your disposal.
What you now have to look forward to if this goes to court, is a judgement placed on your credit, which ruins it even more, and wage garnishment.
Deal Addict
Jul 29, 2014
1506 posts
1106 upvotes
Toronto, ON
coolintheshade wrote: You ruined your credit over some referral credits?
Is 6 years of bad credit worth this “several hundred” in referral credits?.
To me, not bowing to corporate bullies worth a lot. Besides, no car loans, mortgage paid off in few years, etc.
coolintheshade wrote: Instead of dealing with front line CSR’s, you should have escalated to a supervisor or other higher up.
I tried several times and was given several excuses.
coolintheshade wrote: Failing that, contacting the ombudsman or similar, would have yielded better results if you’re in the right..
Are all corporation required to have ombudsman, I thought that was a government thing.
coolintheshade wrote: There’s always other channels at your disposal..
Such as? I'm genuinely willing to consider options.
coolintheshade wrote: What you now have to look forward to if this goes to court, is a judgement placed on your credit, which ruins it even more, and wage garnishment.
That assumes I will lose. It also assumes that collections will pursue it to court while at the same time you're questioning why I would do that.
Plus, self employed and paid in dividends, zero salary.
-------------
GRAMMAR: The difference between "Feeling you're nuts." and "Feeling your nuts."
English is a difficult language. It can be understood through tough thorough thought though.
Newbie
May 10, 2018
68 posts
15 upvotes
So is there any benefit to my equifax file if I pay this collection off. It has 3 more years till it purges of. If I payed it it will still purge in 3 years and not 6 ?
Deal Addict
Mar 18, 2009
1458 posts
286 upvotes
Renous
The only benefit now, is if you're actively looking for a loan, or mortgage, or something similar, and the lending institution requires no balance in order to advance the $$. Once you have a collection on your credit report, whether it's $100 or $10,000 you're viewed equally bad (unless things have changed over the past few years).

imho, ride it out
Reserved for future time travellers

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