Hi,

I have a 7000 balance in Charge-Off/Collection with LTD Financial Co. and want to settle. Is it better to settle, or pay in full from credit rating perspective?

Thank you

Yes. Pay them. You may be able to arrange installments. But, yes, pay them or they will "sell" your debt to someone else and just hound you.

Both a settlement and a paid off collection will appear on your credit. Will a potential lender or creditor look at paying off a collection balance in full as a positive? Possibly.

If you agree to pay the entire balance off make sure you get the creditor to agree to delete the collection off your credit report.