Collection accounts have an adverse affect on your credit report, especially the more recent collection accounts. If you have not received a copy of your credit report to see if you have any collections you want to visit the three main credit bureaus. Equifax, TransUnion and Experian. In this article I will review methods you can use to delete collection accounts to get approved for home, auto and credit card loans. After you have identified them on your report, you want to group them into two categories.
Older and recent collection accounts. You want to deal with older collections first, by disputing them directly with the credit bureaus. In most cases the collection agency does not keep proper records to verify the validity of the account and without this proof the account needs to be deleted from your credit report. Keep in mind that you also need to dispute each of these items individually or else your dispute would be classified as "baseless" by the credit bureaus and they will not investigate your claims.
Collections
When it comes to more recent collection accounts the process is a little different. In is more likely that you would not be able to get these items deleted from your credit report with a simple dispute due to the fact that they are more recent. This should not keep you from trying but if you don't have any luck there is another approach you can take.
That is to settle with the collection company in exchange for a deletion. Most third party collection companies buy the debt for pennies on the dollar which means they have a little room to negotiate. Try to get them to accept an amount comfortable with you in exchange for the item being deleted from your credit report.
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