I have an old credit card debt that is due to "fall off my credit report" in Dec 2021. They have sent me a settlement agreement that I need to respond to in the next 30 days. I can afford the settlement that they are offering, but am afraid of how it will impact my taxes this year. I believe that the remaining unpaid balance will be considered "income" and negatively impact my taxes. I have 2 questions really: Is there a difference between a "Satisfied Settlement" and "Charge Off" in regards to my credit score? Is it best to pay the settlement agreement or do nothing and let it fall off my report? Thanks for your help & input.
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