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Is "Settled" better than "Paid In Full"?


simplysilky
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I recvd an offer of 35% off my bill of $79 for Calvary Portfolio. The rep told me it would be "updated" as settled if I chose 5 easy installments of $11.91 or if I paid the whole thing off ($51.59) it would state "paid in full" on my credit report.

Which would look better/bring my score up just a couple of points?

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Neither will help your score. A paid collection is still a collection. A CA can do nothing about an OC's tradeline. If they say they can, they are fibbing.

Your best way to handle it is thorugh the OC, if you can. Make arrangements to pay in full to the OC with the express stipulation that they recall the collection and mark your account as "paid."

By recalling the collection, the CA looses all authority to collect and looses the right to report anything about you. The OC does not have to give any reason for recall and marking your account as "paid" neither violates their agreement with the CRAs nor is it a false statement. "paid" is a neutral statement that is neither good nor bad for scoring.

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