paid debt is hurting my credit report

[Hallelujah Sister]

I expected that paying off an old debt would raise my credit score, but I am surprised to find that the collection I paid off still sits on my credit report. Whats the point in paying off a debt if it still hurts your credit report! Can anyone spare some words of wisdom in how I can get this ugly mark removed? Thank you.

[mycreditgroup]

You're not alone in this situation. While its true, paying an old collection in itself may not improve your credit score, it will prevent it from getting worse. Depending on the creditor, dollar amount, age of the account and your state's statute of limitation, paying it may have prevented it from turning into a judgment. A judgment would be further damage to your credit score on top of potential wage garnishments.

So in short, you did the right thing. time to start rebuilding your credit.