Typically an account is sent to collections if it is more than 90 days past due.  What does this mean, how does this affect a credit report, and how is best to remedy the situation? A collection occurs when we are late on a payment; examples could be auto loans, utility payments, or other services in which you are billed after receiving goods or services.  After 90 days these delinquencies are reported to the credit bureaus and lower your credit score, making it more difficult to obtain credit in the future.  The best remedy, pay the collection as soon as possible and keep all other accounts in good standing.  Greg Meyer discusses in further detail on his blog and describes how your credit can be improved after paying off this debt.  Read the full article here.

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