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Unpaid judgments remain on your credit report for seven years or until the state statute of limitations runs out, whichever is longer. Knowledge Is Power. A proactive strategy starts with a review of your current status.
When your debt is sent to collections you will also see a new record appear on your credit report. This collection record will remain on your credit report for 7 years from the last 180-day late payment on the original account, whether or not you pay the debt back.In the event that your original account is also on your credit report, both account records will remain on your report for 7 years.This is also true if a new record appears when your debt is sold to a new collection agency.ince collectors buy debt for pennies on the dollar, they are often open to negotiating a reduced settlement. Some collection agencies will also offer to take the record off your credit report if you pay the debt, although this is technically illegal. Have the collector send you the terms of your settlement in writing.