RE: Burdines Account Charged Off / Collections Balance: $1307.16 I agreed to pay the balance in full over 10 months - after paid, the account will be reinstated. Idea: Send a copy of the agreement letter from Burdines, Legal/Recovery Department, detailing the agreement to all (3) CRA's. Dispute the fact the account has been charged off and that it is in collections. In addition, advise that there have been no late payments. Any thoughts??
You've admitted its yours, and it was a chargeoff. I would leave it alone until the reinstate it, and see how it reports then.
Just a word of caution, Federated (in charge of Burdines credit) will make it sound like your account will be reinstated. If you listen to/read the details and/or press them you most likely will find out that what they mean by "reinstatement" is that your old account will be listed as a paid charge-off and you will be getting a new account. If its in writing be very sure there is no ambiguity and/or loopholes. To them "reinstatement of your credit" or "your account" is not the same as "reinstatement of your original account." 0 Been there - almost done that.
