Settlements or Paid as Agreeded. Click here and clean credit reports

From: realperson@aol.com
To: majors@oskie.com
Sent: Saturday, May 21, 2005 9:05 AM
Subject: (no subject)
I am clearing up my debt and have been offered settlements. One company is owed $1000 but offered two settlements. One for $700 which will be marked paid in full, while the second settlement was for $500 which will be marked settled.

Is there any real difference as far as my credit report is concerned.
SJ
To help your score, your credit report has to show paid as agreeded with no late payments AND in full. So the answer would be no and possibly a small yes. These will not help your score if you have entries in the overdue column. Paying in full will clear this column and it will help your score some. The overiding factor on scores are paid as agreeded and in full. Any late payments or settlemnts will still show you were late at some point in time, thus lowering your score. The up side is to pay every bill you have no matter what your score is but try to use payment as a lever to have thing marked paid as agreeded and in full. The back side, if you pay now is, todays date will show as the latest activity which is where the seven years will start. After 2 years, good or bad credit has diminshed relevance on scores. So for at least 2 years your payment will have more effect in the negative, due to recent activity. Get a gas card by sending them money with your application and overide the recent negative, with recent positive credit.
Good luck
Bobo Majors
931-455-6066 Work Russell Barnett KIA