Credit Health · हिन्दी

Settled account

An account is marked settled when a lender agrees to close it after accepting less than the full outstanding amount owed, usually after a borrower has fallen significantly behind on payments. It is treated as better than a write-off, since some repayment did happen, but still signals to future lenders that the debt was not repaid in full, and it noticeably lowers your credit score for as long as it remains on your report.

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