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Can a credit bureau agree not to report settlement to the credit bureau?

Submitted by Herford on Tue, 08/04/2020 - 20:50
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Can a debt negotiator convince my creditors not to report it to the credit bureaus after an account is settled with a lump sum? A settlemet company has told me this. Will I believe to what they're saying? One of my friends told it's not possible.


Sounds like a scam. What will the creditor report then|? Will he update your account as paid in full|? Or, is it that your account status won't be updated only|? in that case, your account will be reported as delinquent. It won't be beneficial for you anyway. Don't believe anything unless you get everything in writing.


Submitted by David Martin on Wed, 08/05/2020 - 23:08

David Martin

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Hi Herford! Yes, it's not possible! When you are settling your debts, your creditors will report that to the credit bureaus. And the accounts that you have settled will show as "paid-settled" in your credit report. And let me tell you, it's much better than unpaid status in your credit report.
But if a settlement company has told you this, they are misguiding you. That's why you should consult a genuine debt settlement company to get rid of your debts. Call 800-DEBT-913 to get immediate debt help. The expert financial coaches are ready to help with your debts!


Submitted by Craigh.terry on Sun, 08/09/2020 - 21:31

Craigh.terry

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