Posts Tagged "settlement"

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

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

Intentional late payments for debt settlement will damage credit scores

Dear Experian,

I am considering signing up with a debt settlement company. They told me that in order for them to negotiate the best deal with my creditors I must refrain from paying my bills for more than 90 days. Won’t this negatively affect my scores?

– TND

Collection account added after declining settlement offer

Dear Experian,

A debt collector contacted me about a debt that isn’t on my credit report. If I don’t pay him the settlement offer he proposed, can he then add the account to my report?

– RBL

Original account not updated when debt is paid through collection agency

Dear Experian,

When an account is paid off through a collection agency, why doesn’t it show paid in settlement on the account with the original creditor as well as the collection agency account?

– PGR

Settling a debt will hurt credit scores

Dear Experian,

Does it hurt my credit score if I settle my account?

– EWH

Paying collection accounts in full can help, but might not improve credit scores

Dear Experian,

In the long run, will my credit be more positively affected if I pay off collection agency debt in full as opposed to accepting and paying a settlement amount?

– ATO