Should settling a debt hurt my credit score more than paying in full?

[BennoLostDragon]

Hey, so if you're thinking about settling a debt, you might be wondering if it'll ding your credit score, right? Or is it better to just pay the whole thing off?

 

[ErgmX1ps3]

If they report it to the credit bureau, you should totally pay it. It'll just add another positive mark to your accounts, imo.

 

[Breadzilla]

Before paying, ask if they'll do a pay for delete. Otherwise, they'll report the debt as settled for less. It will stay on your report for the full seven years, with no credit benefit. If they agree to a pay for delete, get it in writing first. Use mail or email.

 

[sarixganduro]

Don't do it. I did, and it's still showing on my credit as a charge off.

 

[MistyAwaken]

Just pay it. 50% off is a steal.

 

[Neondrago]

Dont trust debt consolidation companies. They write it off as a charge off basically bankruptcy