I saw your earlier post about Burdines and was wondering what happened. Did you pay them and if so, did they follow through on their promises? I am in a similar situation but through a CA and would feel better knowing about Burdines before I paid. Thanks
Re: lbrown59 I had been thinking of paying it just to get it off my credir report - last week the CA offered me the option of paying it in full and having my account w/ Federated brought back to current and reopened or pay about 40% and have it be closed. Now I am a little older and wiser - but not much! I contacted Federated credit/collections today and the lady first told me that Federated leaves the old account closed and opens a new one. I tried pointing out that having a chargeoff - paid or not - is very detrimental on a credit report. Got the lecture about how Federated opens the second account as a courtesy and to give people a second chance but I would have to live with the charge-off for 7 years. Asked her what incentive there is to pay in full then. She started extolling the virtues of owning Federated cc's. Told her that the CA had told me my old account would be reinstated. She hemmed and hawed a bit and then said 'whatever the CA tells you is true.' Now I don't know what to believe. In the meantime the CA is now expecting a check and is probably going to be pissed.
