I have a charged off account that I'm trying to work on with Citibank. It's old, charged off in '97. It's by no means my only one, but I'm wondering the difference in whether they note it "paid" or "settled". The lady said the R9 rating would still be the same since they "won't" change or delete the tradeline. Since my credit's already bad, should I just go for the settlement and pay a lesser amount? I'm just trying to figure out where I stand in terms of negotiating with them. If all the reps are like the lady I spoke to, there's no way they're going to delete or improve the rating.
Since it's 97 - why pay it? It's going to fall off in 2004 paid or not. It's a moral decision, you can pay it and feel better, or let it go and eventually it'll be off your report. Only difference would be what credit you plan on applying for in the next two years. Score-wise I don't think it'll matter, but if you apply for a car/home then they'll care. Hope this helps... GT
We are applying for a home loan which is why I need to pay it. It doesn't have to be a good notation, only show paid off. Otherwise, believe me, I have no moral problems with never paying it. LOL
