Re: Help understand
ing how settling on a credit card debt will change my Fico score.
04-18-2013 03:13 PM
I am trying to find out if settling my credit card debt will lower my fico score and if so, what should I expect?
My balance was $2031.00
Settled for $ 500.00
Thanks for any information.
Hi Jason and welcome to the forums!!!! Is the settlement with a Collection Agency or the Original Creditor? The only way to see a score bump would've had to result in a PFD. With a settlement all they have to do is update the trade line to Paid settle for less which will not give you a score bump. I would send a GW letter asking for removal.