Bad credit report?

my common law husband had a credit card from a dept store its been more then 7 years, it been in collections for about 7 years some time last year i recieved a phone call from the collectors and they offered me a settlement i paid most of the settlement , since i did not pay the full settlement i know the balance of the debt now has to be paid in full again , the problem is my common law husband was not the one who made the arrangments for the settlement and since im the one who talked to the creditors do we have to wait another 7 years to be cleared off the report or can he contest it with the credit reporting agency denying he ever made arrangments with them

Bad credit report?

Whenever you do settlements it will appear on the credit bureau report as %26quot;Settlement%26quot; you may want to have your husband contact the dept store to see if they can work out any arrangements to have the debt paid in full, for any debt paid in full always looks better.

Bad credit report? loan

They can keep changing something about the account )send it to collections, change the status, etc until it is paid. Start with the original amount, deduct what you paid last year. Of this amount, most companies will settle for between 50 and 70 percent to get it off of their books, even if it takes 2 or 3 payments. BUT the amount of the discount is unearned income when you file your federal taxes. Since it is Common Law husband, it should be on his credit report not yours.|||Call consumer credit counselling service or the united way in your local area to get free credit counseling. The local library has books on how to handle credit problems or letters to write for free. Find your answers from professionals who do not charge. If you talk to people, write down the date, name, company name, the phone number and person%26#039;s extension for future reference.