Wells Fargo Unsecured Credit Card "almost" in Collections?

Well, first of all, do you have the money to pay of the loan at the settlement amount? If you can i suggest you do. You will pay taxes on the settlement amount, but looking at the big picture you will save money. Most all creditors, including secured and unsecured loans will allow settlements to be made. I would only suggest something like this is done when there has already been a CHARGE-OFF. and in your case there already has been one. Once you settle on this account it will say on your CBR (credit report) "settled for less then amount owed" but at least there will no longer be a CHARGE-OFF and the 7 year period will begin to get this off your credit. OH, and most companies will only gfive you 30-45 daqys to pay off the settlement amount in full or they can cancel the deal.. dont forget to get the settlement in writing... Hope this helps!