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ANightInTexas

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How will my settled credit card debt look on my credit report?
I had a credit card I took out and never paid, this was through Chase. Chase turned it over to a debt collection agency. The original amount was for over 750 dollars, I settled for 475 and paid it in full. I am trying to recover my credit and was wondering how this will impact me short, mid, and long term?

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Scoring wise there is no difference between "paid in full" and "settled". There is also no scoring difference between "paid" and "unpaid" collections. The charge off and collection account associated with it will always have a negative effect on your credit as long as it is listed on your reports, but the damage will subside over time as the accounts age. Read all that you can about rebuilding credit and look for a Secured card or loan to help with rebuilding.

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