bullardpuckett967369

Fix Credit Repair - What's the difference Between Satisfied Credit Cards and settled credit cards.It is not uncommon to inquire what is the difference between settled credit account and a satisfied one. The answer is simple A settled account was paid in full while a satisfied one was only partially paid. Both these codes indicate that a debt was paid in full. Both of them will affect your credit score. A settlement means that the debt was paid but a settled account shows that you've not fully repaid it.A settled balance will remain on your credit report for seven years, whereas a judgment remains on your credit report for approximately 10 years. In either scenario, it is important to pay your debt promptly as your credit history of your payment is the largest factor in your credit score. A settlement account isn't a default but it can be a benefit in the long run. A well-run account shows that the debt was paid off, which may aid in getting approved for loans in the future.Settlements will not result in credit scores that are positive, like satisfied accounts. This is because the debt will have been paid down to a lesser amount than what you originally owed. The settlement will remain on your credit report for a maximum of 10 years and 7 years. https://citizeneffect.org/dont-let-bad-credit-score-history-stop-you-from-investing-in-property/ But this doesn't mean it is without impact on your credit score. A settled account that's not paid off can leave negative marks on your record.While a successful account won't affect your credit score in the same way as a debt that is unpaid but a settlement will affect your credit score. It is always better to settle your debt rather than not pay it in full. If you've been late on a few payments and have missed a few, it could be a better idea to to make them as soon as possible. This way, you'll be in a position to pay them off within a few months.A credit card that is satisfied is permanent and will remain on your credit report for a period of seven years. If you pay your debt via a settlement it will remain on your credit report for seven years and can negatively impact your score. A settled debt will remain on your credit report for seven years, whereas one with a good credit score will remain on your report for only seven. A satisfied account won't have any negative effect on your credit score.A satisfied account is reported to your credit report as a paid-in-full account. A settled account won't be listed on your credit report. If the debt is likely to affect your credit score, it is not an ideal idea. The settlement process will not harm your credit score however, it will demonstrate to your creditors that you are accountable for the debt. Fortunately the difference between a satisfied and a settled account is not much.