After credit card settlement negotiation and payof

After credit card settlement negotiation and payoff. what is the result to my credit score and for how long will that seriously hurt me.

2 Answers

It will hurt your credit score surely. Your score can drop by around 125 points. But it will depend upon your existing credit score. If your score is around 700, then it may drop by 90-100 points.


it depends on your status before the settlement.  If you are paying off a collection account, your score has already taken a hit.  If you were current on your account, your score will tank major time because you are not paying as agreed.  It will hurt you for a least a couple of years.

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