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Negotiating settlement
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Posted by Oyster on February 05, 2002 at 17:54:39:
I have three credit card charge offs from 5/98 that I wish to settle so that I can improve my credit report and eventually buy a house. They range from $8000-$10,000 per account. What sort of leverage will I have in settling these accounts, given that the Statute of Limitations for open accounts is 3 years in Louisiana? I have about 40% of the total balance in cash, but I'd like to spend as little of that as possible, naturally. Two of the accounts are with collection agencies and the other is with the collecting arm of AMEX. Can someone with experience in these matters offer me advice in effectively negotiating/settling charge off accounts that are beyond my state's SOL?
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