I am in the process of paying everything off on my credit balance to a zero balance. I've received offers to SETTLE the account. I am not sure if I should settle or pay in full. I am looking to purchase my first home very soon and I want to know what would look better on my credit report, or will it make a big deal.

I am in my late 20's... How would this affect my credit report if I settle for less the amount that is due.

Thanks for your help in advance.

Are these accounts behind?

If not pay as agreed, this will help your credit score, paying less than agree may save you money now, but will reflect on your credit.

Yes, these are old accounts... 4 years plus on my credit. I have the opportunity to settle. Not sure as what I should do...

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Originally Posted by Sunflower03

I am in the process of paying everything off on my credit balance to a zero balance. I've received offers to SETTLE the account. I am not sure if I should settle or pay in full. I am looking to purchase my first home very soon and I want to know what would look better on my credit report, or will it make a big deal.

I am in my late 20's....How would this affect my credit report if I settle for less the amount that is due.

Thanks for your help in advance.

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If you're going to pay in full, make the stipulation that you want the account to show paid as agreed. Anything less will not benefit you. Also, I woudn't pay anything that was close to the seven year mark.

Find out first, how the paid entry will appear on your credit report. If paying in full will have it appear as paid in full, that will look better. If either way just gets irt marked as paid, the settle.