I am waiting on a letter from the First National BAnk of Marin (I hate these Freakin People, one got real nasty with me once) Anway, My balance was 800, they said they would settle for 250 and report, this is the Kicker as charge-off, settled in full/paid less than full with a zero balance. Has anyone heard of this and is it basically going to be the same neg. as it is now. Should I pay after receiving the letter and then dispute with the CRA to see if it will come back verified. I truly need some help on this one because this company makes me SICK and to get them just once would make me feel great
Why are you paying the $250? I mean, the account will be paid/settled but this will not help your score at all. However, if you really need to pay it to get a mortgage, you could always try disputing/nutcasing it away later...
That is what I was thinking was to pay it and then dispute it until it is either deleted or update to just say paid, but this paid less than full is birds.
Keepmine, What you don't understand is this: When you get a FNBM acct, they charge $250 for fees and a $200 savings account. I am willing to bet that the difference is over the limit fees and late fees. By settling for $250, they get their original charge! They had me at over 900! I only charge $44 worth of stuff and had paid over $300 across time, but they always posted late. It snowballs from there! I emailed FNBM CS and said forward to office of the pres and cc'd the FTC, OCC, BBB of NV and the AG of NV. The next day, the office of the pres called. The zeroed out my account, closed it at my request and marked my bureau "pays as agreed". What was my "ace"? They NEVER actually establish the savings account! (All secured cards will report what is in your savings account.) So how can they bill you, get interest on, and add fees for something they never gave you?
Scmof, Can you email me and give me the play by play so I can do the same, I hate these people and do not want to give them a dime. I was miserable with this card and want it off my records period or reported as pays as agreed and closed.
