Should I take settlement or try to pay in full????

[Creditobsessed12]

I have a Wells Fargo loan and the balance orginally was $7000+ but now it's only $1026. 

I am about 120 days late because I got this loan with someone else and they were supposed to pay the 2nd half of the life of the loan and they have not.    Sucks for me!!

Wells Fargo is willing to give me a settlement for $398.71 otherwise the account will charge off on 2/26 unless I pay.

What should I do?  Should I take the settlement or do I suck it up and try to pay off the balance???  I'm confused.

I have other settlements on my credit report.  Would another one kill me?  Would my score decrease even more if I take the settlement even though I already have a bunch of lates on this account?

Message Edited by Elizabethd1012 on 02-19-2010 12:21 PM

[Creditobsessed12]

Oh and they are not willing to take a settlement and show the account as PIF.   

[llecs]

I'd try a PFD vs. having the baddies removed. Look around to for WF success stories. Seems like I saw a few in here but can't remember.

[Creditobsessed12]

I already tried this and I really don't want to spend anymore time trying because if i don't take the settlement or pay off the balance by 2/26 they will charge off the account.  Will the settlement kill me?  My score is not good because i have other settled accounts but I am trying to fix it.