I had a Synchrony card that I had a high balance on but it was never over the limit. Synchrony suddenly closed the card for no reason other than I guess because I wasn't using it. Eventually with all the fees and a missed payment or two the card got over the limit. They now offer me a lump sum payment to pay off the card, about 60% of the balance due. I read that this is not really a good thing to do because it leaves a mark on your report that you settled for an amount less than the full balance. What should I do with this card so it doesn't hurt my credit worse? I can pay the overdue amount now but that leaves me with a monthly payment which I do not want. I cannot pay the full balance now either. Let it go into collections? What should I do?
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