Pay Full amount or settlement? Will they both have the same negative effect on my credit report?

Tips and Deals Forums Consumer Credit Improve Credit Pay Full amount or settlement? Will they both have the same negative effect on my credit report?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 6 years, 6 months ago.

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    Anonymous

    I have had $ 400 in collection since 2003; apparently it was never paid off and has since then accrued late payments and interest, the original balance being $ 130 before all the fees. Never had a collection agency mail me anything about this till now or checked my credit report till now. So I called them to pay this because I don’t want this to continue to hurt my credit like it has apparently. Is it best to pay the $ 400 or the settlement of $ 250 like I was going to? They told me my credit report would improve more if I paid all the late fees and everything at $ 400. Can someone tell me what amount should I pay, they are both negative marks but is one going to effect me more then the other? Thanks
    Do I simply ask for them to not report any negative points on my credit report or ask that they mark it paid in full. Can I ask them to mark as paid in full for the seetlement. The collection told me it was better for me to pay the $ 400 rather then the settlement amount.

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