Seriously, how often does a CC agree to mark a charge-off as "paid in full" ?
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Posted by credit boi (24.93.94.109) on July 25, 2002 at 23:19:20:
I've offered to pay the full balance on two credit cards of mine that were charged off after I was hospitalized 7 months ago. I called the credit card companies directly and they refused to speak to me, they said it was "illegal" for them to even discuss the account with me since it had been charged off.. (citibank and chase) When I spoke with the collections agencies that they had assigned the debt to, they said they had never heard of anyone having a charge-off changed. The best I could hope for was a charge-off with a 0 balance, but still a R9. I said then why should I pay anything if my credit report is already ruined, and I have almost no assets? The collections agency said if I paid them the full amount immediately over the phone with a "phone check" they would send me a receipt that I could fax the credit card companies, who might decide to change the status. Literally, everyone here talks about getting a credit card company to change the status of a late or "charge off" yet I haven't seen a single person post and say that any credit card company has EVER done this. I've offered to pay the full amount to both the collectors AND the original creditor. They both basically told me to go fuck myself. Absolutely no negotiation under any circumstances, they said. The BEST they could offer is if I paid them immediately they might "think" about helping out my credit score. But they refuse to give anything in writing. I'm beginning to believe this whole "making demands" of collections agencies is a joke. Nobody is interested in making ANY deals with me.
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