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Charge off account,Who Owns
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Posted by carol
(67.243.33.29) on May 22, 2002 at 23:16:44:
I have a charge off account on my credit report, the shows last activity as 10/97. I have tried a number of times to offer a settlement on the account. I have read that they will sometimes take .50 on the dollar.
The problem is I have done this by phone, I did not want to put anything in writing, since I don't want them to change the date of last activity, but the problem is, The creditor is the one listed on my report, so of course I contacted them, I was then given the name of a collection agency. So I then called them and try to settle on this account. They said they would have to call the creditor to see if they will accept this offer, and they would call me back, of course they don't have my number so I called them back, and not from my home phone of course. I was then told that the creditor would not accept my offer that it was too low, the amount is 5000. And they told me the amount was a little over $7000, with there fees. I asked who owned this account and did not get an answer.I told them I would only settle the amount on my credit report.
This is just confusing to me, I always thought that when it was turned over to collection agency they have all rights to settle this account.
Does anyone know how I can handle this. On my Experian report it says that it is comming off in 2004. Thanks for any help on this matter.
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