Evolution Financial Services

Concerned About Your Child's SSN Getting In The Wrong Hands? You're Not Alone And You Should Be As This Happens To Over 1 Million Children Per Year.

Why Fraudsters Want Your Child's Social Security Number Children can be victims of identity theft and their information may be even more valuable to thieves. Learn how to detect and help prevent child ID theft.

Does settling a debt that is showing negative on my credit report as a "collection", get removed from my report as soon as it is paid? Does paying this debt help raise my credit score?

Well, not actually. Once a collection is paid it isn't removed immediately from your credit report. Remember is that your credit report is a history of how you have managed your credit over time. That history will include both the good and the bad.

The good news is that the negative information will not remain forever. Negative information, including collection accounts, is deleted seven years from the original delinquency date. The original delinquency date is the date reported for the first missed payment on the debt. That date carries over from the first account to the collection account, so both accounts will be deleted at the same time.