MHJ
Rep Points: 85
I have a question...if you negotiate a lump some payment of 50% of the debt on a card does such an payment method hard your credit rating? Are there any consquences?
I'm pretty sure from my investigations both here and elsewhere anything less than full, on time payments will affect your credit. Others here can correct me if I'm wrong but settlement is viewed almost the same as bankruptcy ( maybe slightly more favorable) and can give you negative dings up to 8 years.
Also i'm sorry I must have had a brain fart, I mean to spell it as"negotiate" not negoiate
