I have a credit card that went into default about 5yrs ago now. We are trying to qualify for a new home and they want me to show that this has been taken care of, no matter if I settle or pay in full. A) What is the best way to try and settle this in terms of dollar amount. The original card had a limit of $2500, the credit report now shows like $6600 with all their crap interest they try and charge. B) What should my demand be on how they report this to the credit reports and how will this affect my credit score as it has come back up to a nice range of about 700 and I don't want this to affect it in a bad way. Thanks for any advice you can give!!
When I bought my house 4 years ago I got some nice settlements on some of my accounts. I'm not quite sure how they showed on my CR but my credit was good enough to get an account for new furniture for the house Probably not the exact answer you wanted but thought I would try to help!
