Collection accounts can really drive your credit score down fast. To make matters worse sometimes both the original account and the collection account can appear on the same credit report. This ends up giving your credit score a hard and fast one two punch downwards.
How To Delete a Collection Account From Your Credit Report
Most people recommend that in order to delete a collection account from your credit report you try and negotiate with the bill collecting company.
If you do this right they will be able to close the account down and in turn get it deleted from your report. However most companies are reluctant to do this and will hold out for the most amount of money possible. After all their commissions is based of the amount they collect.
Another good option is to get the account knocked off of your report without having to pay any of it off. This method is called self help credit repair.
This is a method were you use the law to your advantage and make the creditors do most of the work required to.
How Does DIY Credit Repair Work
When fixing your own credit you are asking through credit dispute letters for the credit bureaus to contact the companies that are reporting negative information about you. the bureaus will ask those companies to verify the information they are reporting to them.
If within 30 days they do not or will not verify it the account must be removed from your account. However if another collection company picks up the account it can be placed back onto your report.