settling a debt
Date: Sat, 08/14/2010 - 05:06
i'm trying to help a friend to clear up her credit report. I don't want to give bad advice.. If she settles a debt, is it as good on the credit report as paying it off?
If it is bad debt, there is no difference. Paid or settled coll
If it is bad debt, there is no difference. Paid or settled collections are both negative.
Nothing can be as good as paying a debt in full. As Soaplady pos
Nothing can be as good as paying a debt in full. As Soaplady posted, if it is a bad debt, debt settlement will not make a difference in the credit score. Remember that settlement can severely dent your credit score, but you can always try to improve it by regular payments later on.
