Settling my Debt

I recently came into some money and need to clean up my credit report. I am looking for the best avenue to do so without negativity effecting my credit. Is it bad to call and settle for as little as I can and what do I need to make sure I get to boost my credit back up from the negative marks.

3 Answers

Settling a debt will not result in ANY increase in score. And future creditors see that you did not pay as agreed and will be very hesitant to lend to you.

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It is not bad to call and settle your debts. At least, future creditors will come to know that you have settled the debt. Don't expect to see an instant increase in your credit score.


there is no way.you are behind and as long as the accounts are being reported accurately paying will not improve your credit.nobody will remove a correct entry even with a payoff/settlement.

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