"settled" vs. "paid in full"

Posted by Paul (68.113.81.5) on April 28, 2003 at 19:22:40:

In Reply to: Re:Hi posted by Vasya on April 28, 2003 at 12:35:04:

I am in the process of paying off my years-old credit card debt to repair my credit, which is pretty bad. I just negotiated with a collection agency for less than they were asking. They indicated that they would report to the credit bureau that my account was "settled in full" as opposed to "paid in full," which they would report if I paid them the total- not the total balance, but the amount it was when they acquired it. Now I'm wondering if how much worse for my credit "settled" is than "paid in full." Will my credit be okay if I settle all of my accounts?

Thanks.

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