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Credit Reports Q&A
Q: I have 2 cellphone bills in collections and a credit card. They keep getting bought and resold. Will they ever be off my credit report or do I need to call and make a deal with them? It's almost been 7 yrs on all three.
A: Generally, accounts sent to collections will be listed on your credit report for up to 7 years, beginning 181 days from the most recent delinquent period before the collection activity. A collection account's status should change to "paid collection" once you've paid off the entire amount. If you settle with the collection agency for less, your credit report may list the account as "settled for less than full balance."
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