Penn Credit and a sudden settlement

[stargirlzz94]

About a few weeks ago i called Penn Credit to schedule a full payment with them for the 12th of this month. However I just received a letter from Penn Credit stating athey are willing to accept settlement in full for 75% of the balance and/or make payment arrangements of the account. What should I do now? Should I call them back and take up their offer? Or just stick with my original schedule payment? Thanks in advance.

[taxi818]

Well if they agree to delete trade line.  I would pay in full.  But if they status change. Like. Close open account. And put paid I. Full. I would vouch ter with 50%. That status change will make it look like new derog on your report.  So delete. Or you get half. But. Your choice. Good luck. 

[joltdude]

If you stick with the scheduled payments... it will be paid in full (Im assuming the account is still "open" but not usable) and paid as agreed (might even get them to PFD it)

If you settle... you could pay quite a bit less... it would be settled for less than the full amount.... But you might be able to get them to delete it.. but less likely than above..

Still think sticking to your payment schedule might be better off in the long run and give you leverage...  (please someone else on this forums throw their opinions in on this.. slightly unsure if thats the ideal answer)....