HI all, new today to this site. Here is my situation. I have recently let a few of my credit cards go over. I have had creditors calling me like crazy. Finally able to work out deals with 3 of them. But one has (according to Viking Collection Service) been charged off. My Cap. One card for around $1600. After talking with Viking, they want to make a deal with me where I send them payments/send them postdated checks for 6 months. My questions 1. What does charged off exaclty mean? 2. How bad is this for my credit? 3. SHould I pay the Viking guys? 4. How long will this be on my credit report? 5. Any advice on how to handle this? ANything else would be greatly appreciated. Thanks
1. What does charged off exaclty mean? 2. How bad is this for my credit? 3. SHould I pay the Viking guys? 4. How long will this be on my credit report? 5. Any advice on how to handle this? 6*After talking with Viking, they want to make a deal with me where I send them payments/send them postdated checks for 6 months. digiburd ================ 1*I's smiply an accounting term - doesn't make the debt go away. 2*One of the worst derogs. 3* Never pay a CA an unvalidated debt. 4*7 years 5*Do your home work at the links below. 6*See 3 Links New Member Must Reads.--------------------------- http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=350770#post350770 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=314910#post314910 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=352826#post352826Sample letters http://consumers.creditnet.com/straighttalk/board/index.php?s= WhyChats statute of limitations http://community-2.webtv.net/Y-chat/WhyChatsCredit/ http://community-2.webtv.net/Y-chat/WhyChatsCredit/ statute of limitations http://www.edebtnetwork.com/content/collection_laws.asp """"```--~~~~~~~~~--```'""''' THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
Thanks, This site is a god send... I look forward to kicking this in the butt and getting my credit back on line. Thanks again Bobby
I would advise against sending a CA a post dated check...then they have your banking info and could do something with that! I would demand validation from the CA before paying a dime!
