Paying an old chargeoff

Discussion in 'Credit Talk' started by Dustin, Jul 14, 2001.

  1. Dustin

    Dustin Well-Known Member

    I had an account charge off in 1999 (November). That is my most recent baddie. They have sent me a settlement offer for 50% of the balance owed, payable in two monthly installments.

    Now for the ??: If I pay in installments, will that reage the account (for the date of last activity), or will it stay at Nov. 1999?

    If I pay it in full (the 50% settlement), will it reage?

    I remember something about the FCRA changing after 1998 and anything after that it is illegal to reage if paid. Or is that only if paid in full?



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