How long does a derogatory credit remain in a credit report? Paid collection outweigh charge off?I have an outstanding derogatory unsecured credit acc't in dispute. The Acc't was submitted to a collection agency in 2007. This brought my credit score down to 703 in Jan 2011. New American Funding (NAF) loan rep. (we had a transaction in underwriting - no cash out, lower int. rate, loan to value 50%) wants me to pay off said acc't. I said no, and sent them a strong letter. The loan rep. argued with me. I told him I didn't want him to contact and reactivate the disputed account. After hearing his arguments, I still held to my strong position for him not to contact the collection agency. The loan rep., then informed me that he had called the collection agency and pretended that he was me because he thought he could settle it. Well, he didn't, and I was furious to say the least, and told him the deal was off. There are two issues here. I don't want to pay off an old account that my wife and I feel is not our debt. We're seniors on fixed income, retired, and decided to just let the clock go on until that disputed bad debt is charged off. The other issue is the misrepresentation.March 16 2012 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.