I have an old charged off account (11/1997) which was sold to a CA. It was sold again to another CA... Today, I got a call from a CA which I have never heard of. This CA offered me a settlement for 80% of the original amount + fees + interest. I did not know what to do, so I just said it was not mine and ended the call. Frankly, I want to settle the debt for about 25% of the original amount with a condition that the OC's TL would be removed from my credit report. However, I don't know if it's possible for CA who bought the account to remove the OC's TL? Moreover, what I should or should not tell/do with this CA? Please help, Thanks!
Hi there - I'm not an expert by any means so see what others have to say. First, I think you did the right thing in denying that the account was yours. Maintain that stance. Second - is there a statute of limitations in your state? I think in some cases there is an SOL and a CA can't attempt to collect after said date. Third - dispute your old addresses off your credit reports. When they are gone, demand validation from the CA per the process outlined at the top of this site. Fourth - dispute the TL with the credit bureaus once the old addresses fall off. Fifth - depending on your other TLs, this collection may not be affecting your credit score all that much given the age. I would think you have nothing much to gain in paying anything right now, even in exchange for deletion. In fact, I've read here recently of scores that have actually dropped when and old baddie drops off because the age of the TL actually helped more than the collection status hurt. I hope this helps. Good luck! Poochie
This CA offered me a settlement for 80% of the original amount + fees + interest. I did not know what to do, so I just said it was not mine and ended the call. wind ============ Keep your mouth shut don't admit anything and send them the Val.L. THE END ** *** ** LB 59 """""""""```~~~```'"""""""""
Fourth - dispute the TL with the credit bureaus once the old addresses fall off. Poochie ********************** I would not do this before i got the green card back from the CA THE END ** """""""""```~~~```'"""""""""
