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How will my credit score look after each situation? Will have have bad credit and for how long?
1. A Settled debt paid off for 30% of what is owed after no payment for 60 days.
2. A full payment made to credit card company after 180 days late, right before being sold to a collection agency.
3. A debt paid (whatever %) after being sold to collection agency.
Thank you I am curious scenario along on the credit report and what it will mean and do for my score.
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You score will pretty much be the same for all three. Paying off a derogatory item does not improve your score. The damage is done and will remain for the balance of the 7 year reporting period.
In all three cases, the original creditor will show the account as a charge off with late payments. That includes the settlement with the original creditor in #1 — the account will be reported as charge off/settled, a negative.
You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – credit-report-free.totalh.com