Q&A: What is the advantage of settling a Credit Card debt and how is it going to show on my credit report?
What is the advantage of settling a Credit Card debt and how is it going to show on my credit report?
I have a credit card debt is not so much I actually thought I can pay it all off. I received a phone call from the bank and they offered a settlement much less then what I owe. Can this really back fire on me or affect my credit in a really bad way?
Best answer:
Answer by k2t3
if it has already gone to a collection agency, you pay a lot less. it will show paid on your credit report but you need to make sure it does get reported that you paid it off.
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