Jump to content

Settlement Offer Triad


candimax25
 Share

Recommended Posts

I just received a reply to my settlement offer. The original Offer was 25% and deletion of the line.

The 1st reply was 50% and Settle for Loss.

I rebuttled with 35% and Paid.

The 2nd reply is 40% Settled in Full with $0 Balance.

The question I have....Is there a big difference between Paid in Full with $0 Balance and Settled in Full with $0 Balance???? Would it affect my scores significantly to have the Settled in Full instead of Paid????

Thank You

Link to comment
Share on other sites

This is the original creditor...I currently have a payment plan with no interest, but it will take over a year to payoff. I was told that is I complete this they will place Paid in Full - $0 Balance on my CR. If I accept the most recent settlement, I will save 60% but the Line will read Settled in Full - $0 Balance.

Any Idea which would be best???

Link to comment
Share on other sites

zero percent interest isn't bad! Maybe it just depends on your desire to salvage your credit score. I have a card at 0%. it won't be gone in a year, but if you can get rid of yours in a year it might be worth it.

But, if you don't care about your score and can settle that might be the ticket.

Link to comment
Share on other sites

I would keep the 0% interest deal, and pay off the credit card sooner (if possible). Could you make larger payments?

You are in a great situation with the OC, but you want the line of your CR to read "Paid in Full" with a $0 balance. "Settled" will either keep your credit score the same or might even lower it.

Make sure this is not verbal as well; get it in writing.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.