Should I settle

[Anonymous]

I hope and pray that my loan goes through and I am able to pay Americredit  and avoid a judgement on my cr.  Here is my question.  Should I try to settle for less than full amount?  They offered me a settlement of about $1000.00 off but I don't think that is worth it.  I had thought about calling again and offer a lower settlement.  How will all this effect my CR.  currently showing CO, received a civil summons but hopefully this loan goes through and I can pay them something.  Just would like to get by with giving them less than I owe (so much has been tacked on)  any suggestions

[Anonymous]

Yes you can settle. Just make sure you are "legally settling for less than full"

Make certain you get something say that you are settling in full and that no balance will remain that can be sold or transferred.

If you know the original balance, I would start negotiating there.

[Anonymous]

What will this to my fico?

[Anonymous]

Settling or judgment? Who is reporting now?

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TRYINGHARDTOUPSCORE wrote:

What will this to my fico?

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[Anonymous]

currently it shows a charge off.  I pray I have it settle prior to going to court for less than the full amount

[Anonymous]

The fact that it shows settled with not really affect your score, because it is already a charge off.

No matter how many negatives you have on one account, FICO will read the worse negative on the account and ding you for that.

For instance, a charge off with lates, you get dinged for the charge off, not the charge off and lates.