by bohunter20 on March 25th, 2007

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I have recently been payig off my credit cards and I am close to paying off all but the largest one. That same credit card just recently offered to accept 40% as a settlement. How bad will this settlement hurt my credit if I am looking to buy a house soon

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Answers. 4 helpful answers below.

by anglrckx on March 25th, 2007
i don't think it will hurt you at all. You could talk to a mortgage lender and see what they say.
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- sorry i was just trying to help.
  
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  by anglrckx on March 25th, 2007
- Don't apologise to the person who thought your answer unhelpful. Lets face it, a mortgage lender is the only place to find out for sure. Have some points.
  
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  by Mushen on March 25th, 2007
- Amen. +6
  
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  by Cyanotic Wasp on August 13th, 2009
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by itinary on August 13th, 2009
It probably would.
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by Anonymous on August 18th, 2009
well on your credit report it will tell you how long it will remain on your report .but once its been paid you can write the company to have it remove ive been work on my credit report andthe credit report agent will check to see and they will remove it but the most it can stay on you report is 7 years but over all it wont hurrt it to bad couse every body been paid.and good luck on the new house
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by -Icy- on August 13th, 2009
bad and later you will have to pay taxes on the write off... don't do it.
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I have recently been payig off my credit cards and I am close to paying off all but the largest one. That same credit card just recently offered to accept 40% as a settlement. How bad will this settlement hurt my credit if I am looking to buy a house soon

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I have recently been payig off my credit cards and I am close to paying off all but the largest one. That same credit card just recently offered to accept 40% as a settlement. How bad will this settlement hurt my credit if I am looking to buy a house soon

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