Settle or hardship on closed Smartconnect account? 5 months behind

[professorr]

So I'm at a crossroads, I have a 5 month late Smart connect account for $1,200.  Paypal/syhnchrony says their systems will do 50% to settle the account for less and in 2-3 payments.   I asked about doing a hardship (they call it customer assistance plan for a lower payment and lower %).  but doing this will still report as being late.  

So am I better off just paying for less and be done with the closed account or doing the payments?   My income took a hit in the fal/winter but should pick back up to normal levels later this year.

I feel like saying "waive all the late fees and I'll do the payment plan"  I was really hoping for a 30% payoff

[Anonymous]

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@professorr wrote:

So I'm at a crossroads, I have a 5 month late Smart connect account for $1,200.  Paypal/syhnchrony says their systems will do 50% to settle the account for less and in 2-3 payments.   I asked about doing a hardship (they call it customer assistance plan for a lower payment and lower %).  but doing this will still report as being late.  

So am I better off just paying for less and be done with the closed account or doing the payments?   My income took a hit in the fal/winter but should pick back up to normal levels later this year.

I feel like saying "waive all the late fees and I'll do the payment plan"  I was really hoping for a 30% payoff

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Fewer late payments reported is better - worth the extra dollars in the long run.

[professorr]

well if I settle they stop reporting it as late.  but If I do their payment plan it still reports as late until I get caught up.