Ihave a collection company calling regarding a cell phone debt of $255.00 + 200.00 totaling $455.00. I spoke with the collection company and stated that I will settle the debt for $236.00. The collection company stated that they can settle the debt for $355.00, but by the end of this week they will report it to the credit bureau and state that it was settle. Now my question/concern is that it's not reported to the credit bureau as of now so if I settle the account why would you have to report it to the credit bureau. Anyone with this similar issue? And if so how did you handle this?

Because an account in collections is already on your credit report. The negative mark will not go away. What is reported to the credit bureau is that the account has been settled so when you get your credit report it will something to the affect of account close - account settled