It is no wonder people often get confused whether to delete a collection from their file or not considering the nasty effects some have had with having the reporting starting all over again after a failed attempt at removing a collection.
I'll clear the haze in this area once and for all.
Collections and any other negative information are not desired.
However, there are times when it is advised to leave it than to fight it for removal.
I'll explain to you when it is advisable to try removing it and when you just have fold your arms and watch it live out its time.
If you have plans to apply for an important loan anytime soon, particularly in the next one or two years, and you have a collection(s) that is not more than 3 years old, then it is not a bad idea to take a risk of disputing this kind of account for the purpose of removing it.
All you need do is provide evidence supporting your dispute such as an account statement in addition to the dispute letter which you'll mail to the bureau via certified mail.
Except you're justified in your claim, you'll be counting on luck to bail you out.
If, however, you're responsible for this account but just want to try it out in case you'll succeed at it, then pray that the men and women working at the bureau have their hands full such that they'll not be able to finalize action on your file 30 days after they received your letter.
This gives you good ground to ask them to remove it immediately - their inability to conclude the investigation.
On the contrary, if the collection is just about a year into expiration, simply let it be and endure it.
Instead, you can try other techniques to raise your score such as reducing expenses on cards and paying down debts.
You can also start a repair program on your file by yourself using self-help or hiring a good repair agency.