Ihad a judegment on my report for the amount of 1766.00 when I called they told me the total amount was 4700.00 because of Intrest, but they would settle it and send me a paid in full letter. was this a bad idea, should have I arranged to pay it all. I also paid off some old collections ( 5-6 years old) a couple settled for less and a couple I paid full amount ( fees, orginal charges and intrest) how long will it take to clear up my credit and for my score to improve.
I have plenty of new good credit, I have had a new car payment for almost 2 years and never been late, I have a few credit cards that I pay off each month and so on….
So I have good credit I just had a few older collections that I have paid off, but I have not had any BAD debt new to my credit report in 5 years
I sould have letters from each of the creditors with in a couple weeks and at that point I will send them to all three buerues…

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I had three payday loans worth 0. With intrest they were like 00. After my account went to collections, I kept telling them I am doing everything in my power to pay my loan off. Then when I had the lump sum, two of the companies both agreed to settle my accounts in full for the original amount of the loan, without all the interest and high fees. My one loan was 0 and they settled for 8. Then my other loan was 500 and they settled for 400. The debt settlement company wanted to charge 300 and then 50 bucks amount, so anything extra would be used towards the loan. It seems like it would have cost a lot more to use the payday loan settlement company. All they can do in the end is ask for a lower amount.

Technorati Tags: collections, Debt Settlement, intrest, loan settlement, lump sum, payday loan, payday loans, settlement company