Credit Report
Date: Thu, 06/25/2009 - 09:37
What is the impact on the credit score from settling a debt? I was informed that requesting the company to state on the credit report paid in full. How did it impact your credit score?
If you settle your debt for less, your credit score would fall,
If you settle your debt for less, your credit score would fall, but your score would start improving after 2 years if you are regular with your payments. However, if you can negotiate with your creditor to change the status of the listing to "paid in full", your credit score may improve. Normally once you settle the debt, it gets reported either as "paid as agreed" or "settled for less".
