Debt

[ecoseq78]

Is it better to have an account go to a creditor so it doesn't show late payments anymore or to just pay the payment? 

[Anonymous]

usually the creditor has the right to pursue payment.  if the creditor "forgives" the debt (you would get a 1099-C) you could end up with taxable income. however, any payment would be more than the income taxes on the amount forgiven.     

not paying or late paying the debt will be on your credit report for 7 to 10 years,   

for your FICO credit score payment history makes up 35%

[tagteam]

I have to wonder whether the original poster meant "go to a collection agency" instead of a creditor.

In that instance, it would be better to continue paying the creditor.

[skipper-68_w]

Debt card is better than it goes straight to bank this showing monies will be paid with account right away

[skipper-68_w]

All things I pay with debt cark is paid with in minutes