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What is a collection account?

Quick Answer

A collection account is an unpaid debt that's been sold or assigned to a collection agency. It's a separate negative item on your credit report from the original delinquency, lasts 7 years, and severely damages credit.

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Warren Team
Updated October 1, 2025
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The information provided is for educational purposes only and should not be considered as personalized financial advice. Warren is a registered investment advisor. Past performance does not guarantee future results. Please consult with a qualified financial advisor before making investment decisions.

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