I'm in the process of doing a short sale with my home already, my 2nd mortgage is about to charge off. Which it will, i still have time to settle with the next CA. During the short sale process, when it's done. All accounts are wells fargo. Well my question is i have a balance of $5000, which at one point was a credit overdraft account, now a credit line of sorts. Since my credit is already getting dragged through the mud. I've thought about not paying it & basically wait for them to make an offer to settle the account for less than i owe, before it hit's a CA. That would eliminate all my debt more or less. But i am aware slightly since i still have some credit at the time it may help build it back up some. But i already have a chargeoff with wells fargo with my second mortgage, why not just eliminate all the accounts? Is my thinking. Can a charge off be done on a overdraft/credit line/ credit card wells fargo.
Sorry, but I'm not really following your question. If you're asking whether WF can charge off your $5,000 balance on a credit card, then the answer is yes. How far behind are you on payments?
