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how to erase negative marks while settling a debt for less

Submitted by Jeanette on Thu, 02/22/2018 - 21:14

I want to settle a debt to fix my credit, but need the neg. marks removed , is it possible?

It isn't possible. Creditors will update the account status as "paid as settled" or "paid as agreed". The other option is to negotiate for a pay for delete agreement.

Submitted by ditchdebt on Fri, 02/23/2018 - 01:11


( Posts: 675 | Credits: )

If you settle the debt it will be marked as paid for less than the full balance and will reflect a zero balance. That will increase your score. If you have an open trade line such as mortgage or car payment and are never late your score will improve dramatically. It will not be in the 800's but it can get up to 700. It is all about stabilizing your credit and showing responsibility after you settle

Submitted by Chimpy on Fri, 03/02/2018 - 08:44


( Posts: 10 | Credits: )

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