Posts Tagged ‘ settlement ’

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

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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

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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

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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

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Settling a debt will hurt credit scores

Dear Experian, Does it hurt my credit score if I settle my account? - EWH

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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

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