My credit card has been delinquent for over 4 years now. Credit score in 560's. Any chance of it going up?

Question

Right now I've been trying to get these settled for less than the amount owed. So will that hopefully bump it up alittle bit?

Answer 1

A paid negative is still a negative.

If you plan to settle the accounts, you should request (in writing) that they consider the account as paid in full and also that they agree to remove it from your credit reports.

If you do not to get them to consider the account as paid in full, you may find the same collector, or another, trying to collect on the remaining amount later on down the road.
Plus, if you do not get them to agree to delete, the account will be updated on your reports to show as settled. Updating the account will make it look newer than it actually is, which will tank your scores.

If you haven't yet, you should start by sending a debt validation letter. Among other things, make them prove the amount owed is the correct amount and had not been illegally inflated, that they are licensed and/or bonded in your state if your state requires it, that the account has not passed the legal collecting SOL for your state and that they have a legal right to collect that debt.

Never sign your name to your letters, only print your initials or type your name.
Everything you send to a collector should be sent certified mail return receipt.

After they properly validate the debt you might send them the pay for delete letter.

If you are out of the collecting SOL for your state, you do have a legal right to inform them of that fact by using a SOL letter and a legal right to not pay.

Answer 2

pay your bills for like 7 yrs...then your number will get better