Re: Cap One dillemma

Posted by Donnie (68.202.30.114) on June 25, 2004 at 18:31:06:

In Reply to: Re: Cap One dillemma posted by Quit Screwing Me on June 20, 2004 at 23:58:10:

Charged off means you let it go so deliquent that they gave up on their efforts to collect internally and sent your accounts to a collection agency. Settlements are simply a way for the company to recoup some of the losses involved in the charge off. When you allow an account to charge off, even if you later settle the matter, it is a permanent mark on your credit report for several years. I think you are the one who looks like the ass now. Sorry.

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