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Re: Charge-off/SOL Question

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Posted by CAK ( on November 15, 2003 at 20:16:48:

In Reply to: Charge-off/SOL Question posted by Huh? on November 15, 2003 at 01:02:12:

If you are going to settle with a OC before or after Charge-off, part of your WRITTEN AGREEMENT with the OC should be that no negative information is to be listed on your CR. They may or may not co-operate. If you don't agree in writing, they will probably list it as, (settled in full for less than the full balance) and may note the account as derogatory and show the remaining balance as a charge-off.

Make sure that any agreements are in writing.

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