Thread: Problem with creditor not wanting to settle

Okay, my husband has a loan at a small loan company that was placed on his credit report saying he owes 775.00, this was not paid 6 years ago..I know wait one more year right!! WEll now we have found a house that we want to purchase and this one loan would raise his credit score 21 points, putting his score well over the 620 needed so he calls them today to see if they would settle...they tell him his owes 1600.00, now the credit report still shows 775.00, so he calls them back and asks them if they will take 1000.00 they said no, the lowest they can go is 1500.0, can they do that since the report says 775.00??? I mean hello if we could pay 1500.0 we would just pay it all....any help would be appreciated thank you

Shark