Allowing an account to fall into collections is a dagger in the heart of your credit. This alerts other lenders that you’re a risky customer with a history of failing to repay your debts in a timely manner (if at all).
But even if you’ve got pristine credit habits, it’s possible to find an erroneous collection on your credit report from time to time.
So, when can you get collections removed from your credit reports? Here’s what to know about those financial scars—and how to promptly deal with them.
How collections end up on your credit report
Collections end up on your credit report as a result of missing payments on a debt for an extended period of time.
After failing to…