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Hello!
There are many of the salvaging tools facilitated nowadays. To list a few, a loan modification program, hardship filing, debt consolidation, etc. I think all these are of great importance when it comes to the borrowers when they are lacking payments.
I want to know, if compared, which option is GOOD for credit score?
1. To repay loans that I will after 2-3 months when the things will settle well
2. To get rebates, compromises etc. and pay the reduced loan overheads. This will save much money, though.
In short, specifically how does these rebates and salvages would affect the score?
Your score can only improve if the creditor removes the negative items from your report by coming to a pay for deletion agreement. Now, if you cannot get the negative items such as charged off, delinquent accounts and late marks from your credit report, then even if you pay off the debts, your score will not improve. The only positive thing that will happen if you pay off your debt is that you can prevent yourself from getting sued to the court by the creditor and getting judgments which may adversely affect your credit score.
credit
OP..have you had a chance to look at your CR? Do you know what the SOL is in the state where you reside? I don't know how old the specific debts are, that you are speaking of, but,..if you look on your CR's you will see a 'Fall-Off' date for them. These dates are the predicted dates that the debt will be removed from your Credit Reports. Also....you really don't want to start paying on a debt if the SOL has expired because you would 'Re-Age' the debt ( that means start the SOL over to another xxx years..) and the CA's CAN try and collect their money.