[dlcsmc86]

When someone is offered a settlement or you are negociating (sp) with a creditor or collection agency. Some say to try to get the creditor to put PAID IN FULL OR NEVER LATE OR no deal. How do you really know that they will abide by what they are saying, I know they can't be trusted. Do you wait to get that in writing from them before you send any money. They can just not
Do it and what then can you do about it. Its probably too late. Any feedback on this. Thanks

[s_cianci]

When things get to a point that you have to negotiate with a collection agency then you're essentially in default. If you do settle then that will be reflected in the record that the debt has been settled but the record will also note the default status of the debt That will lower your credit rating. In any situation, however, a settled debt is always better than an unsettled debt and reflects better on your credit record.

[RickJ]

Get confirmation of anything they promise you in writing.

... then if they don't report it right, you can dispute it with the credit bureau, showing them the letter, and they will remove or correct it.

[dlcsmc86]

Thanks for your reply. I will keep you posted.