Charge-Off Account

Posted by Gamosi on October 17, 2000 at 16:38:59:

I know this question has been answered a thousand
different ways but I can't seem to get a satisfying
answer for my own. I recently requested a copy of my
credit report after almost 10 years. I filed a chapter
7 when I was very stupid and young. I have two charg-off
accounts on my report. One charge off was done in
October of 1994 and the other was done this year for
an acccount that was inactive since 1991. I wrote the
credit bureau because I really didn't know who the first
charge-off belong to. I asked them to remove this because
the debt was paid. Three days after my telephone
conversation with the credit bureau, I received an
express mail letter offering a credit card proposition
in the mail from the company that held the debt stating
that they will give me an unsecure line of credit for
$300.00 and in addition add the $600 dollar delinquent
debt onto it also. They stated this was a great way to
reestablish credit. I indicated to them that I was trying
to get out of debt not go back into debts and that I
wanted to settle the account for a reasonable amount.
They offered to settle for $300.00 if I Western Union
the money before the end of Sept. They also stated that
it was against their rules to go beyond settling a debt
for lower than the $300.00. They also stated that they
could fax me a letter stating that the account was paid
in full after I send the Western Union. Since this is
Capital One working with some collection Agency called
Wesleyan, can they remove the debt from my credit report
because the names are different. I just ran into this
problem with an old Montgomery Ward Account. Once collection
agency had the account. AFter paying it off, I was told
that they could not remove Montgomery Wards information
and that I had to contact them. Also, Is this charge off
old enough to have been removed from my credit file? Is
the collector just trying to get me to pay on a dead
file? I really want to do the right thing. Please help.
Lost in Texas.

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