I've mentioned this on another thread briefly, but here's the basic situation. Looking for advice here. Had a charge off in 10/2005 from First Premier CC for $406. FP turned my account over the Arrow Financial in 01 (or 02?)/2008. Arrow hasn't sent me a letter yet - but they are calling as of 2/6/08. If I pay Arrow (I'd settle for the $406, I have the money.. and it is what I owe..) are they obligated NOT to report since first contact was made on or about 2/6/08 (or whenever they sent the letter, but can't possibly be sooner than 1/17/08 since that's when they first pulled my TU). Or can Arrow still report even if I pay them? What's the advise here - pay them, wait for a letter then validate, or attempt to validate without the letter?
They are not obligated not to report it and paying it will not ensure that they will fail to report it. However, it is likely you're best option at this point if your main goal is to keep it off of your reports.
Thanks for the quick response. I am leaning that way. The basic deal.. just about all else negative on my report shows last activity of 05 or early 06. This being Arrow, I figure if I don't try to get them off BEFORE they report, I'm going to have a bitch of a time getting them off afterwards. And yeah, my primary goal right now is just to clear this up. We are looking to buy a house in the next couple of years and this must be done.
Oh, yea, it will be a bitch to get off once it's on there. Do what you can to "try" and avoid it. The $500 or so dollars isn't worth the trouble.
