Will paying off credit card for less than is owed lower my credit score?

Well unfortunately it definately sounds like they've been adding fees and their own charges onto the balance for some time. They're milkin you sweetie. You need to be firm. Call them up, ask to speak with a manager and ONLY a manager. As them what the full balance due to pay off the card is and work out something from there as far as a 'settlement' amount. Be warned, they may try to give you grief. If all else fails tell them that you plan on filing bankruptcy ( even if you're no where near even thinking about it). If you file bankruptcy, the credit agency gets nothing so they'll be more apt to 'settle' with you for you lump sum offer. Play hard ball! Be sure that what ever you settle on you actually follow through with or they'll just keep haunting you. Also, as far as your credit goes, one acct won't kill your credit but it can impact your score for awhile. Paying and closing the acct is better than an unsettled oustanding debt. Hope this helps!

truly stable solutions Your subject isnt the debt, it truly is the way you take care of your funds. while you're making 2600, your hire can't be by using any skill 2200. What do you devour? automobile coverage? Emergency mark downs? .... First you may desire to decrease your hire by using seven hundred or so. detect a good place that has each thing blanketed. once you flow to the food market have the cheap. do not endulge or overspend. Open an oline mark downs money owed and positioned 20 for now each month. Dont say you cant, you could. AH btw, the fact you have money owed has not something to do with mark downs.... you elect extra funds, get a extra effectual activity, or a 2nd activity. in case you have not paid late in the previous, so as to rescue that credit and do away with that debt you like an somewhat agressive plan. minimum money wont do, interest will devour them. Why in the international you pay plenty on friggin hire??? Are you working a bussiness from which you're making all your funds??? if so you may desire to get one or 2 in many situations going on jobs and decrease the hire money to proceed to exist. assume you elect month-to-month 850 a month for hire (utilities blanketed) this would be even seven hundred. 80 a month for nutrition, asumming you recognize the thank you to cook dinner and strech the greenback. a hundred thirty for automobile coverage, = poor credit 60 = cellular telephone 200 miscelanous expenditures = gasoline, etc a month = finished 1260 a month to stay. in the experience that your activity provides 2600, wich is approximately 20 an hour, and you get a element time for 10/h that provides you at leasts one thousand dollars extra advantageous, that is 3600 a month - 1200 = 2400 to pay on your money owed You owe = 30890, Your debt to credit ratio sucks so which you cant ask for extra. ignore approximately 0 % can provide. So, Pay those 1300 first all of sudden to advance your credit somewhat. Then pay the different taking part in cards. do not INCURR ANY NEW DEBT. in one 365 days you'll be debt loose = 30890/2400 = 12.87 = one eyar aprox.... in case you may make added funds or borrow out of your mothers and dads you're inspired to accomplish that.

Your credit score probably dropped when your debt went to

the collection company 9 years ago. If you are paying a collection company and not your credit card company, it usually means that the credit card company has already taken it's loss by selling your debt for a reduced amount to the collection company. The collection company has likely recovered their cost to buy the debt and is earning their profit from your payments. I would try to settle with them for a lesser amount. Good luck.

WOW, I am really sorry you've paid a collection agency MORE than what you owed :( I've had a $4,000 credit card bill sent to collections and I talked them down to paying one lump sum of $700 to eliminate it. If I were you I'd call them up and let them know you've already given them more than they deserve and be NICE and they might work out a deal with you. Believe me, it can be done. And no it will not hurt your credit as far as I know.

Paying off credit card debt for 9 years harsh. Go to your bank and explain the situation. They should be able to offer you a loan or line of credit that you will be able to pay off much faster than the credit card.

The credit card company will not forgive your debt for any less than the amount outstanding.

at this point do not worry about your score get a hold of them work out a settlement and pay it full and cancel the card!!! then you can start on a path to rebuilding credit score!!!