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What is the difference between paying in full and settling in full How will my credit score be affected by each Which is better?
Wiki User
∙ 16y ago
If you are paying a collection company, make sure before you pay anything, that you get a deletion letter. This is a letter stating that if you pay, the entry will be deleted off your credit report. Now, whether you are paying in full or settling, it has the same affect on your credit score--Paid collection or paid P&L or charge-off account. This will remain on your credit for 7 years. This is why it is important that you get a deleting letter. Source: Phil Turner, Credit Bible.
Wiki User
∙ 16y ago
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Will settling a close credit card debt hurt your credit?
it would really depend on the age of the debt, if it is more than 6 months, leave it alone. By settling it it becomes current news not old and forgotten. It will make you feel better about paying your debts but will actually harm your credit score. You'll sleep better at night but your credit won't.
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Consolidated results include the results of subsidiaries of a company.Thus Consolidated results give a better picture of value of a company.
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It depends on what you are looking for in a card. If you want one with more rewards, one geared toward students, or one with good cash back, it may make the difference between which is better in your eyes.
Better to pay in full or settle a credit card debt?
In most cases, it is always better to pay the credit card off in full because the payoff is best for your credit rating. If you are able to settle the debt with an agreement that states that the credit card company will not send an adverse action transaction (e.g., chargeoff, workout, etc.) to the credit reporting bureaus, then you are better off settling.
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