Settlement VS Pay Off VS Drop

[Anonymous]

*I have a few collections letter offering a settlement, however, I'm confused* As I've read other questions and answers through forums, I see that it can either help or hurt you when paying these collections...also I read of some people that let them drop from their credit and earned points... I just don't get it... Please Help!!! Credit Score not the greatest, however, don't need it worse either. TU=565 EQ=601(2/1/2008)and 575(3/11/2008)--- IDK why dropped since I don't have anything new or any changes.. EQ=575/EX-518 I wanted to know what to do at this point... Thanks... Needed to add: Car--up to date / CC--paid Message Edited by ChicaNutella on 03-11-2008 09:52 AM Message Edited by ChicaNutella on 03-11-2008 09:53 AM

Message Edited by ChicaNutella on 03-11-2008 09:53 AM

[fused]

Hi ChicaNutella! Please read the credit scoring 101 thread in my sig line. Then come back with your questions.

[Anonymous]

When I started reading your response I was like "not again" since most people have given me the same answer.  I want to thank you for your response... I clicked on the link and that page is full of great information that I sure needed to know...Thanks again for the Help!!! I will start on my letters today and send them to pay off everything... Great Letter by the way...

Message Edited by ChicaNutella on 03-11-2008 06:31 PM

[Anonymous]

Dont get too excited yet, all the PFD Letters I sent out all came back and stated that they wouldnt delete anything!!

[Anonymous]

---

creditbomber wrote:
Dont get too excited yet, all the PFD Letters I sent out all came back and stated that they wouldnt delete anything!!

---

Keep mailing them. Find higher ups to address the letters to. Find email addresses for officers, vp, president, etc.

What companies?

[Anonymous]

NCO Financial, and local lawyer firm