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Is it better to pay a debt in full or settle for less than the amount?
The debt is old but the company who bought it has it reporting as July 2012. We've tried to have this fixed but it came back as "verified." I guess we're just screwed there. It brought our score way down and I'm trying to get it up. Any advice?
PAY IN FULL. personally I would never settle again, its like a big black mark on your CR. and mine was small ($500 debt settled for $150). Not only is it the right thing to do if the debt is big enough you will have to claim it as income on taxes
We did contact the original creditor. They said they don't put things on credit. That's why we only just found out about it. They said we COULD pay them but they can't delete it or update it because the collector holds the account now so that won't do us any good.
@Anonymous wrote:We did contact the original creditor. They said they don't put things on credit. That's why we only just found out about it. They said we COULD pay them but they can't delete it or update it because the collector holds the account now so that won't do us any good.
I would ask for a supervisor and talk to the CA about the PFD but wouldnt do ANYTHING unless you have it in writing from them