Which sounds like the better deal?

[sharpie]

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@Anonymous wrote:

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Paying the balance on a collections account does nothing for your score.  Unless you mean ask them if you can have a payment schedule in addition to them deleting it...

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OP said they offered to delete if PIF, which is what I was considering in my answer.

[Anonymous]

If I take the settlement offer of $111.00 they will update the report as paid.  If I pay the full balance of 372.00 they would consider a deletion.  Since this is a neg mark on my report I would rather have the TL deleted rather than a neg mark showing as paid.  This was originally and old checking acct that ended up overdrawn and unpaid.  I know it sounds odd, but I would rather have a neg mark removed completely than 30 extra points plus a 90+ days late comment. 

[llecs]

Ditto. The baddie if it remains would certainly cost you more than the $261 difference in the long run when you factor in slightly higher interest for future credit products.

[sharpie]

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@Anonymous wrote:

...  If I pay the full balance of 372.00 they would consider a deletion...

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If they are cooperating with you, and you with them, I would ask for more than a consideration.  I would ask for a promise, in writing. 

Although if it were me, I would still pay it regardless their answer. 

You can always GW them afterward.

[jasimae]

I'd definitely pay for the deletion, but whatever you do...get that deal in writing before you make that first payment. No matter if they have to send it to you by carrier pigeon...don't pay until you see that agreement on their letterhead.