this guy keeps calling me and saying if i pay right now he will cut it in half insted of 1000 he said 500 and we are even. ive done this befor took the settelment on other debits and every thing turned out alright my ? is: . will my credit be that much worse if I take the deal?
2006-06-26 08:46:23 · 9 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Not sure, but I would be sure to get something in writing so he can't come back and screw you over.
2006-06-26 08:49:55 · answer #1 · answered by ★Fetal☆ ★And ☆ ★Weeping☆ 7 · 0⤊ 0⤋
Your credit report will show that you didn't pay the entire balance and that you settled for a lesser amount.....but...it also shows that you are willing to make good on your responsibilities..so at this point, it is up to the person reviewing your credit to make a decision...as far as the score, it will lower it a bit at first..but give it a couple of months and your score can bounce back. Make sure you get something in writing that says the debt is clear after you pay the agreed amount.
2006-06-26 08:51:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Honestly, if this is at least the second time you've been through this and apparently it's accurate since you don't claim anyone is trying to collect on a false debt, you true answer is within yourself and a complete overhaul of how you manage your financial affairs. Without that, your credit history and negative effects of it has not a breath of a chance of ever doing you any future favors.
2006-06-26 08:54:50 · answer #3 · answered by nothing 6 · 0⤊ 0⤋
No, it will be reported as Settled In Full to the credit bureaus. Call one of the major 3 to find out how much it would affect your score. It won't differ by much though.
2006-06-26 08:50:06 · answer #4 · answered by Lisa 5 · 0⤊ 0⤋
by taking the deals, its listed as paid off only. the deal is between you and them. once a year for free you can get your reports from the three major companies at annualcreditreport.com. you will see your other deals listed you mentioned if they are in the seven year period and then again, they don't always take it off after seven years, good or bad.
2006-06-26 08:53:55 · answer #5 · answered by hollywood71@verizon.net 5 · 0⤊ 0⤋
Try talking to a credit councelor, they usually have multiple options to pay your debt, the one that fits your needs...but it will affect you credit/credit score in case you don't take care of it!
2006-06-26 08:50:38 · answer #6 · answered by Dil 3 · 0⤊ 0⤋
it sounds like to me the guy just needs to be paid. I don't see how it could hurt your credit, especially if it was his idea for the deal. Take it....make him sign a reciept that says paid in full.
2006-06-26 08:50:56 · answer #7 · answered by LittleLady 5 · 0⤊ 0⤋
You need to see an Attorney or an Accountant.
2006-06-28 10:34:08 · answer #8 · answered by Anonymous · 0⤊ 0⤋
On your credit report, they will just write 'settled'.
2006-06-26 08:50:27 · answer #9 · answered by nursesr4evr 7 · 0⤊ 0⤋