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?


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?


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?


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?


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?


Settling a debt will hurt credit scores

Dear Experian,

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


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?


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