02-21-2012 02:29 PM
I recently disputed an acct with an OC that I had paid in full years ago, and today I got an alert telling me the acct was changed, the acct use to state bad debt/collection and had late payments on there, now the acct shows a $0 balance no lates and acct status as settlement accepted, is the better? Is it going to help my score?
02-21-2012 02:44 PM
Hard to say. The reporting of a $0 balance is somthing that was required of them when the debt was settled.
The deletion of the prior derogs will help.
However, they have apparently reported a "paid for less than the full amount" special comment to reflect how you paid the debt.
That in itself is a negative comment, telling others that, in the past, you did not pay all of obligated debt.
Some feel that FICO separately scores a "settled for less" comment. I have seen no public statement to that effect, but the experiences of others seem to indicate that they do.