can I settle credit card debt for less than I owe?

Question by aakoonche: can I settle credit card debt for less than I owe?
I owe Credit card $ 10K, they have agreed to settle for $ 3.5K, will this affect my credit score.


Best answer:
Answer by QuirtYes. It appears it will.

Anything that detracts from your creditworthiness will hurt your score.

Check out the site in the source. It has a rundown of your exact question.

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