Paying down debt may reduce the rates you could pay on future loans and save you a lot in interest payments.
Making a long-term effort to pay down debt can eventually allow you to live more debt-free. With just a simple debt management plan, you can live debt-free.
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If you have a charged off account, is it better for it to show “paid in full” or “settled for less?”
It is always better for an account to show it was paid in full than to show it was settled for less than the full balance.
A status of “settled for less than full balance” means that you negotiated repayment of the loan for less than was actually owed. Any time you fail to repay the full amount you owe it will be considered negative.
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