Posted on
March 26, 2010
at
2:33 am
how bad is it to have a settlement on the credit report? how does this whole thing work again? thank you in advance!
Posted on
March 26, 2010
at
3:06 am
how bad is it to have a settlement on the credit report? how does this whole thing work again? thank you in advance! --- it depends on what you need a good score for?But debt settlement stays on your report for 7 years.
Posted on
March 26, 2010
at
3:39 am
Settlement on credit report is "settled", "settled for less than the full balance", or "settled in full." - thosecan be negotiated.
Posted on
March 26, 2010
at
4:10 am
Here's a question - is it true that if the consumer obtains a letter from the original creditor, agreeing that it's "settled in full."- that it's as good as a settlement did not happen? That it won't appear on the report?
Posted on
March 26, 2010
at
4:32 am
You mean "paid in full" ... and I don't know if they are different..
Posted on
March 26, 2010
at
5:01 am
A settlement on the credit report is better than a bankruptcy. Also because of the economic recession - settling debt is actually encouraged - it's better than not paying anything at all.
Posted on
March 26, 2010
at
5:22 am
I agree - and I think some lenders mind set have also changed from viewing a settlement on the report as a financial irresponsibility (for not being able to maintain payments on time) on the consumer's part - to - the consumer being actually responsible, even if he/she can't afford to pay in full. Anyway, if you get refused a loan or a lease ...check for other errors on your report and clean it. It's probably not because of debt settlement ...
Posted on
June 25, 2010
at
2:57 am
It will stay on your credit report, also it will hurt your credit score.
