2007-08-25 04:23:51 · 7 answers · asked by kimeko_walker 2 in Business & Finance ➔ Credit
Depends on the settlement.
If part of the agreement is that you insist they report it as paid in full, then it will show that.
It will still show the fact that you were late.
Do yourself a favor and get the settlement agreement from them in writing, before you give them any money.
2007-08-25 04:34:49 · answer #1 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
Yes. The amount you paid will be on your credit report also. It will show a zero balance and something like 3x90 (meaning 3 times 90 days late) and an R-9 (Re voling and nine is the worse on the scale of 1 to 9.
Or if it is an Installment Loan, like a car loan it would have a rating of I-9. And show "collection ".
B.O.A. screwed up my account, their fault and it took me 9 consistent months to get a letter from them they said they would mail me and they never did. I needed a letter from them indicating the error was on their part ( I was going to contact to the 3 major credit companies TRW, EXP, Equifax.)
So, true get anything you can in writing prior to you settlement payment.
Even if they still report incorrectly you can forward a copy of the letter to the 3 agencies and always, keep the letter in a safe place for any major purchases in the future. It WILL help with a credit report explanation letter from you if you ever intend to purchase in a home in the next couple of years.
Good luck...nothing is good unless it's in writing.
2007-08-25 05:03:43 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, it will appear on your credit reports as "settled". Also, just for future references, if you plan on paying off anymore debt in the future, send the collectors a letter requiring them to COMPLETELY remove ANY information involving your account once you have paid your agreed balance. This will be a letter that you can submit to the credit bureaus after you've paid your debt and they will update your report so it looks like you were never in collections.
2007-08-25 07:19:10 · answer #3 · answered by glendaokoeguale 3 · 1⤊ 0⤋
in case you propose they "settled" for a decrease volume than what replaced into certainly owed, then the respond is certain, they are going to coach it paid, yet at an volume under what replaced into owed. they are going to then checklist the un-paid ingredient as a "fee off" on your checklist which would be a destructive checklist. in the event that they deliver you a letter putting forward that they conventional the fee as "in finished" then you definately could desire to touch the CRA's and furnish them with a duplicate of the letter wish it fairly is efficient.
2017-01-05 05:24:47 · answer #4 · answered by sopata 3 · 0⤊ 0⤋
Yes, it will show as "Settled for less then full amount" this will continue to show until 7-years from the date of first delinquency.
2007-08-25 04:39:29 · answer #5 · answered by ? 7 · 0⤊ 0⤋
Yes, kind of.....it will show settled in full unless you challenge it via credit repair.
2007-08-26 04:17:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Trust me,it will show up eventually.It is just that simple.
2007-08-25 04:41:22 · answer #7 · answered by james m 5 · 0⤊ 0⤋