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Does making a settlement payment on a debt improve your credit?

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Answered 2006-08-21 15:46:56

Also make sure it is signed by someone--(unfortunately you might be talking to a lowly collector that told you he/she was a supervisor). If the letter is not signed, I'm afraid it won't do any good sending it in to the credit repositories to get a correction done on your report. Nowadays, anyone can type out a letter so the repositories will verify that the signer does or did work for lender before correcting the problem. only if you get it in writing from the collector that they will report it paid, or pain in full or just remove it. To many times they will lie to you and not report anything or still report it bad account. Always get it in writing and tell them you want it reported paid in full or to remove it as it saying paid as settlement will not help you as that is negative.

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