Can you tell me more about the settlement visa?

How does negotiating a settlement with collection? ontario canada?

ME AND collection agency....? my cibc visa $8000 and my HSBC from brick $7000. both are on collection agency Should I pay the whole balance? Take a settlement? . What's the best course of action to do the least damage to my credit? please tell me what to do.. and if you have expert on this field.. i wanna fix my credit my score is 577 from friday. how low should start offering.... if i offer them 75% would removed the - from my credit report.....MY FRIENDS GOT $80000 LOAN FROM THE BANK AND HE WENT TO SHOPPING SPREED AND VACETION TO VECATION ... THEY SEND HIM TO COLLECTION UPAID FOR 1 YEAR AND HE PAID 30000 BACK ANDTHEY REMOVED HIS NEGETIVE ROM REPORT. WHAT SHOULD I DO
Answer:

If your accounts are in collection and have been charged-off as bad debt, then your credit has already been damaged. I am unfamiliar with Canadian law....here in the US it is not possible to have charged-offs deleted from your credit reports....they stay for 7 years...paid or unpaid.

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