settling credit card debit and its credit report impact?

by Alegrya
Question by blrrrup: settling credit card debit and its credit report impact?
Does anyone know if you settle a credit card debt balance with a credit card company, does that negatively effect your credit?

For example:

I know if you short sell your house (assuming you are not late on your payment), you get a settled for less on your credit, but not fico hit. It is treated as a foreclosure but your credit isn't sacked.

Can the same be said about credit cards? If you have never

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