Credit report Problem. Is "paid in full" the best I can get from paying off a debt?

Heres a quick run down. I just got out of college and about $3000 in debt. It went to collections and I have worked hard so I now have enough to pay it off. I'm planning to apply to graduate school so I need to borrow money. I want to improve my credit to be able to borrow a loan. I talked to collections and they agreed to let me pay it off and they will mark it as "paid in full". Should I pay for it then? help..... please... is this is best I can get from them?

Credit report Problem. Is "paid in full" the best I can get from paying off a debt?

In that circumstance, yes... paid in full is a good outcome. The alternative outcome is "settled, less than full balance" which means that the creditor agreed to wipe the debt out for only a portion of the original balance. That is less favorable (creditwise) than settling for full balance.

Worse than either of those, of course... is not settling at all. That leaves you open to judgments and all sorts of fun stuff.

Credit report Problem. Is "paid in full" the best I can get from paying off a debt?

Never take a student loan! They will kill you in the long run. Take a personal loan from a bank that you use or open one up. Always pay in full.

Credit report Problem. Is "paid in full" the best I can get from paying off a debt?

You should always pay your debts it is nice of them to remove information about being late.

Credit report Problem. Is "paid in full" the best I can get from paying off a debt?

"Paid in Full" is probably the best you can hope for. It might downgrade your credit history, but shouldn't ruin it.

Credit report Problem. Is "paid in full" the best I can get from paying off a debt?

You can request "close acct as per consumer request" which should be viewable under each creditor.

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