Ask Experts Questions for FREE Help !
Ask
    home1's Avatar
    home1 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 9, 2009, 04:35 PM
    Settlig debt vs paying it in full
    What difference does it make (with my credit score) if I pay the settlement amount vs the full amount on a account that has gone to collection agency?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Feb 9, 2009, 04:38 PM

    If the entry is noted as settled instead of paid in full, it will have some effect on your credit. How much is a secret.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Paying off prior debt to qualify me for a home loan. [ 4 Answers ]

I was wondering if it was illegal for an associate of a mortgage company to give me a personal check to pay off my credit card debt so that I would qualify for a home loan from a lender that her company had found for me.

Early retirement & paying off debt [ 8 Answers ]

I was recently laid off from my job of 37 years. I am 56 years old. I don’t want to work, I want to retire. I have a company pension that I can take a lump sum of $500,000, or a monthly of $4,000, or even a partial lump & the rest of a monthly. I also have a 401k with $80,000 in it, & a severance...

My credit is better but will paying off old debt make it worse? [ 5 Answers ]

I was reading this article (the one linked in the bottom from MSN) strangely enough the same week I was looking into paying of some old debt. I've recently bought a truck, with a higher interest rate due to my credit, and am on my way to a better higher ground in my credit standings. But, I...

Paying Restitution in Full at the Beginning of Probation [ 2 Answers ]

If I have the resources to pay my restitution in full at the beginning of my probation, what effect will that have on my probation. Will the probation officer pretty much stay out of my business? My offense was a white collar crime and all of my conditions other than community service are to...

On social secuity and paying debt [ 4 Answers ]

Hi everyone I'm new here . I have a friend who has a son on social security disability.He is unable to pay a credit card debt of 3,000 dollars. I had heard that a persons social security cannot be garnished. Is there any truth to this? Thank you

View more questions Search