Credit Charge Off Advise

[hu4877]

I have been round-and-round with a certain credit company about a suspected default credit account for the past 2 years. The account has gone through 3 separate debt collection companies because I have disputed it every time with the three credit bureaus.

I am fed up with fighting a losing battle. I am now being offered a 55% settlement from a new debt collector.

My question is this: what is better or worse for my credit score (since I have been trying to rebuild over the last 5 years)? Should I pay the full amount of the default account or take the 55% settlement and have that tagged on my credit report? The difference is about $200 between the two.

 

[hu4877]

Answer to my own question? Or just another NCO scam...

So I thought I would follow-up on my own posting about a week ago from several discussions I had with the collection agency. The debt collector, by the way, is NCO Financial of NY.

After I read the multiple posting to several sites about how terrible NCO is I have to assume I need to take this woman's advice with a big ol' grain of salt.

I asked how either payment option would effect my credit score. The two options were a 55% settlement offered by the origional creditor or the full amount of almost $600. The difference between the 2 is only about $200. The woman from NCO Financial explained to me that if I pay the full amount I would regain 90% of the points to my credit score and if I payed the settlement only 60% of the points would be put on my credit score. As I write this it seems stupid and silly that I took her seriously. But, like I said in the earlier post, I planned to pay the whole thing anyway and get it out of my hair - finally.

Anyone have anything to add? Does what she said have any truth to it? Or was she just trying to get my money...