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beaquincy

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Is making a settlement agreement to pay off credit card good.
I have paid of several card by doing a settlement and know I only have one open credit card. When will I see a difference in my credit score.

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Is it good?

That's a very difficult question to answer without more information.  It very much depends on what your goals are.  If your goal is to improve your credit score, then making a settlement payment will not be "good" in that it does little to improve your actual score and in fact can harm your scores if the file is particularly old.  Making a payment will update the date of last activityt and reset the 7 year clock on how long the item will report on your credit.

It does, however, stop the file from being resold, re-reported, and the harrassment of collectors calling.(I wrote a very helpful article on dealing with harrassing phone calls - let me know if you're dealing with this.)

I'd DEFINITELY recommend speaking with a credit expert before making a move in this area as the wrong move may cost you thousands, lower your credit score, and all that while NOT helping you reach your goal.  Most credit improvement companies will offer a complimentary review of your situation and provide you with expert guidance (such as mine).  Let me know if I can be of further assistance.

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