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If an account goes to collections and IF the CA allows a payment plan, how is that reflected on your credit report during the time it's being repaid?

For example, I have a card that if it goes to collections will take 3-4 years to pay off completely (without settlement). Is this just as bad for my credit report as settling? I am debating between heading to collections on my own, settlement with a company, or a dmp plan. I have a DMP already lined up with a company that is rated B+ by the BBB.

If a card is in collections and being repaid, are you still charged interest?




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