Re: Definition of a settlement?
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Posted by J Kelly
(151.197.37.78) on February 24, 2004 at 13:42:06:
In Reply to: Definition of a settlement? posted by jonrdt on February 24, 2004 at 13:07:42:
Not that I know of. That is why we (most here) tell people not to pay CAs. Paying a CA does only one thing. It stops that one CA from proceeding with collection harrassment. They routinely sell the debt to yet another CA where the process starts all over and it does absolutely nothing good for your credit report.
Some mortgage companies are more willing to approve with derogatory credit remarks. Be prepard to pay higher interest. When you credit improves (that would have happened much sooner if you had not paid CA) you can refinance.
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