Okay.. haven't been here for months (work in retail=yikes at xmas!), so I have a sorta newbie question. I was SUCCESSFUL at deleting 3 negs from my report, but I have a pesky Crap 1 charge off from 1999 that won't budge for $1209. It is listed as a charge-off, but on my "negative factors" section of my reports as an open balance. Here's my question...I have done the whole route to delete this to no avail and I sent a settlement offer letter that received no response...but, alas, I received a "Pre-approval" offer from Cap 1 to roll the charge off balance onto a new card and it will be "reported as paid" on my credit reports, etc...so what does this do to my reports vs. leaving it on? I will have to do something about it because I am going for an FHA mortgage and I am required to have it paid by the finance company. Should I accept this crappy offer from them or keep trying to offer a settlement? How will my score fare on each scenario, roughly? Thanks to creditnet I have raised my scores from the way-stinky to the 690's! I'd still like this nugget off my report, so I appreciate the help.
Cap One probably won't settle with you. They are tough as nails. But from everyone has ever posted about that offer 100% said don't do it!
If it was charged off in 1999 what is the DOLA? This is probably out of SOL (depends on your state). This roll-over offer is there only chance to collect the full amount if it is out of SOL, they can do nothing to you legally. Do not accept this offer, let it expire, then send the settlement offer again (but lower the amount). And make sure they agree to delete in writing before you send settlement payment.
DOL was 1999...but this is odd, the Charge-off on a November credit report was for $1175 and now it is listed as $1280...how can a charge-off amount go up? I thought it stopped when it was written off. Also, can they list an amount as "past due" if it is charged off? Plus, I received ANOTHER offer from them today!!!!
lbrown, were you re-asking the question I asked, or did I ask something stooooopid? I read your post and link and I don't get it..... how can an amount be listed as past due if it is charged-off???? Anyone?
