Credit score question?
Date: Wed, 12/27/2006 - 11:42
We are thinking about trying to "settle" with our credit card companies for a payoff amount then refinance our house and pay them off. How badly would this settlement affect our credit scores? Thanks!
"Account Settled with creditor" will hurt your credit if your cr
"Account Settled with creditor" will hurt your credit if your creditor reports this to the bureaus. You can negotiate with them for fair reporting. Chances are they will not report anything negative if you assure them sending money according to their interests and you also feel good with the proposal.
There are better options also, provided you are ready to make higher payments. Consolidation will be a good deal.
