Is certain wording on one’s credit report, for example, “settled in full” status more favorable than other statuses?
What should I ask creditors/debt collectors to agree to report on
credit reports before making final debt settlements?
First, let’s make sure we know our rights for reporting debts,
especially old debts.
Second, recognize that if the debt is being reported to credit
bureaus for the first time, and the reporting period
(typically 7 years) has NOT expired, the debt must still be
reported using the original delinquent date.
Third, assuming the debt is already on your credit report or
will be reported after settlement, always try to have it reported
1. Not reported at all
2. Paid in Full
3. Zero Balance
Also, understand that the exact wording and codes differ by