I'm trying to get rid of a few charge offs. I am thinking about paying them the amount owed if they agree to marking the account "Pays as agreed" and "Account closed on consumers request" The banks are Target, Dillards, Burdines, and Citgo/Citi. The amounts are reletively small. Any words of wisdom on going about this? Has anyone gotten these banks to agree to less then the full amount for settlement? I'm more concerned with getting them off the report than paying the money. Thanks.
If you insist on paying them and you get a settlement for less just be sure that you have it in writing from them as an agreement. If you attempt any of the commonly touted schemes where accord and satisfaction or restrictive endorsements and don't have their written agreement it is possible that doing so without agreement could open you up to mail fraud charges. Without their agreement in writing its best you be paying them in full to avoid any such possibility.
