seven years
A collection account—paid or unpaid—remains on your credit report and visible to potential creditors for seven years from the date of the first missed payment on the debt in question.

Should I pay off a collection thats 5 years old?

If the debt is still listed on your credit report, it’s a good idea to pay it off so you can improve your credit card or loan approval odds. Keep in mind that paying the debt won’t remove it from your credit report (unless you negotiate a pay for delete), but it does look better than the alternative.

What happens when you pay off a collection account?

Paying off a collection account gives you points in the payment history portion of your credit score. Your debt-to-income ratio decreases. When you eliminate a debt, you decrease your debt load and your debt-to-income ratio.

How long can a debt collector collect on your credit?

According to the Fair Credit Reporting Act, the length of time that collection accounts may remain on credit reports is seven years and 180 days from the date the consumer first falls behind on the original account. Even if one of these bills remains unpaid, it cannot be reported after that 7.5 years is up.

When do you have to pay a collection agency?

But in year eight, the collection agency convinces you to make a partial payment on the debt. If you do, the agency will then have an additional seven years to pursue you for full payment. If the statute of limitations passes on a debt, make no payment unless you intend to pay it in full.

When do you have to remove collections from your credit report?

While we have some tips for you on how to remove collections from your credit report, it’s important to keep in mind that, by federal law, they can be reported for seven and a half years from the date you first fell behind with the original creditor.