Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

When a debt, lien or profit and loss item is settled with a creditor, does it get deleted from my credit report?

April 26, 2017credit report Creditor debt deleted lien loss profit settled

0

Posted

When a debt, lien or profit and loss item is settled with a creditor, does it get deleted from my credit report?

1 Answer

0

Posted

13) A No. It will be updated to read; Settled in full or Settled for less than full balance. Ideally, it would be better to have it read Settled in full, but, sometimes the savings when you settle is so large that it pays to take the cash savings and sacrifice a few FICO points.