I am trying to clean up my credit. I have a chargeoff with Associates/Citi which shows written off 6/2000. ($1794 out of $500 with $390 past due) My original credit limit was $500. This is an unpaid chargeoff. I have not received anything from a collection agency, nor does my report show a collection account. Anyway, that is the last negative thing that will fall off my report (6/2007). All other negs are due to come off in 2004. What I was wondering if it would be worth it to contact Citibank and see if they would reopen the account. I could not pay the full amount off, but I could make payments. Would this do me any good, or am I just better to let it go?......I need help!
I also had an associates MC with the same scenario as you. I thought that it would fall off, but instead it was sold to First Select. I couldn't make payments, so they served a judgement on me. Just don't think it will disappear. I would try to make some type of arrangements. I had a $500 balance, but ended up paying $1700 on a judgement.
If I try to make a payment agreement, how much would you suggest I ask for as a settlement? My original balance was $500, but they are showing $1794 as written off.
Normally if you make payment arrangements, they want the total amount, versus if you settle for a % you have to make a lump some. See if they would make payment arrangements, and stop the past due amount and overlimit amount.
