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Settled account to show a balance?

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Anonymous
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Settled account to show a balance?

Just got off the phone with Merrick Bank who is willing to settle the account and consider the matter closed, however they are telling me the balance will still remain. Is this really the case with a settled account? The whole point of me setting is for it to show a $0 balance owed. It is killing my utilization. Is this something some companies do? I see a lot say when they settle, it shows a $0 balance.

My question to them was what is the point? It falls off in two years. It's also way past SOL in my state.
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Anonymous
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Re: Settled account to show a balance?

If you settled and they accept it then they should report as "0" balance. If they still listed as the orginal balance then you can dispute it with the credit bureaus, they are required to report accurrate information. But they should send you a letter that stated you paid for settled for your own record.

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