Pay full or settle

[Anonymous]

I want to buy a house in about 7 months. I have a collection from Comcast for $270. I called them and they couldn't find the debt. The CA is diversified. I know they don't do PFD. I can pay it. Should I pay in full or settle? 

[Anonymous]

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@KS21 wrote:

I want to buy a house in about 7 months. I have a collection from Comcast for $270. I called them and they couldn't find the debt. The CA is diversified. I know they don't do PFD. I can pay it. Should I pay in full or settle? 

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If you can pay in full, then that would be the route to take.  On the mortgage review, they will at least see that you've taken care of your obligation.  If the collection is updating monthly, then the sooner you take care of it, the sooner it will stop suppressing your score. 

[Cherekas]

I agree with Kaykay65, if you have the means to pay in full then its best to do so because it will become a question during your mortgage review and its easier to explain paid instead of unpaid. You'll thank yourself later, especially if this is the only thing that is reporting negative. Reporting late and score suppression is something I'm dealing with on 2 charged off accounts and its not fun. Hope to have them settled by next month.

[RobertEG]

If you settle the debt for less than the full amount, it is still legally discharged.

However, the creditor has the ability, if you settle for less, to also report the additional special comment of paid/settled for less.

That is never a favorable comment in a manual review, as it advises others that you have a history of not paying the entire amount that you obligate, and thus lending to you could result in a loss.

You can, as part of your settlement offer, include the condition that they agree not to report paid for less.

Your credit report will then appear the same as if you had paid the debt in full.

If you have negotiation time, I would begin by a settlement offer with the condition that they not report paid/settled for less.

[Anonymous]

Did you call Comcast or the collection agency ? I had the same issuse the collection agency couldn't find my information so I disputed it through the credit bureaus and it was deleted

[Anonymous]

Generally, I agree with@islandgurl

Just dispute and have it most likely not verify and get deleted, however the prospect of only being 7 months out from wanting to cleanly close on a mortgage, would make $270 feel like an insurance policy worth the money.

I'd PAY IT, then dispute it...Just to cover all bases...That way nobody has an incentive to verify the dispute and there would be no unpaid item to find vs disputing and praying it doesn't pop back up in a few months just in time to screw up a mortgage or at least the terms of a mortgage.

It's $270 bucks...Pay da lady and keep it moving

[Anonymous]

Thank you all for the replies. Comcast couldn't find it so I will pay Diversified. 

[heavyjay]

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@KS21 wrote:

Thank you all for the replies. Comcast couldn't find it so I will pay Diversified. 

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I assume then that you are absolutely sure it's yours even though Comcast couldn't find it.