Posts Tagged "settled"

The effect of delinquencies when going through a short sale

Dear Experian,

Will it have more of an impact on my credit report if I stop making my mortgage payments and become 90 days or more delinquent during a short sale process? Or will it be the same because the bank will still report it as a settled debt in the end?

– ATM

Delinquent account will still remain on report once settled

Dear Experian,

I recently paid a settlement on a delinquent account. I have the release letters and was told I can send them in directly in order to have the information removed from my credit report. Can you tell me how to do this?

– KJF

Using your credit report to compile a complete list of your creditors and debts

Dear Experian,

How do I find out what I really owe and if any creditor will settle for less if I can pay off the balance? Can I get a list of all my creditors from you?

– CYD

“Short sales” usually deleted 7 years from the mortgage’s first late payment

Dear Experian,

How long is a short sale on your credit report? We did a short sale in December 2010, and it is still on our credit report.

– SPG

Missing payments will worsen impact of mortgage short sale

Dear Experian,

How will it affect my credit score if I short sell my house without missing any mortgage payments versus missing payments prior to the sale?

– BSB

Impact of a short sale when your mortgage is not delinquent

Dear Experian,

With the declining value of property, sellers are caught in the position of having to short sale on properties for which the sellers are not delinquent. How does a short sale in which a person has never been delinquent report?

– OVE

Settling accounts will hurt credit scores

Dear Experian,

I have an unsecured loan of $10,000 and the loan company has offered me a settlement of $5,000. It I take this settlement, will it affect my credit score?

– TPF

Settled account status more important than who closed the account

Dear Experian,

How bad does it affect your credit when a creditor reports an account closed by consumer and settled for less then the balance owed?

– NIC

The impact of paying a collection account on credit scores

Dear Experian,

Does settling a debt that is showing negative on my credit report as a “collection”, get removed from my report as soon as it is paid? Does paying this debt help raise my credit score?

– ONY

“Paid in full” charged off account is better than “settled for less than owed”

Dear Experian,

If you have a charged off account, is it better for it to show “paid in full” or “settled for less?”

– JMN

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