What will my credit report show if I choose to settle an old credit card account with a debt collector?
Nov 15, 2008 by Bear E | Posted in Credit
I would like to settle a few closed credit accounts that have been charged off and bought out by debt collectors. The collection agency is offering me a discounted rate to pay off this account. If I choose this option, will my credit report eventually
Think very carefully before you do this. Depending on your state, debts are only legally collectible for a certain period of time. In addition, they can only be reported for a certain period of time. Depending on when the last activity was on your account,
Smith S | Nov 18, 2008
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